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Given the following information, what is the gross margin percentage? Sales Sales discounts Sales returns and allowances Transportation-In Cost of goods sold $ 1,29,400 6,100 4,700 5,900 58,800 A. 55.4%. B. 47.8% C. 54.6% D. 50.4%

Given the following information, what is the gross margin percentage? Sales Sales discounts Sales returns and allowances Transportation-In Cost of goods sold $ 1,29,400 6,100 4,700 5,900 58,800 A. 55.4%. B. 47.8% C. 54.6% D. 50.4%

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...
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Given the following information, what is the gross margin percentage? Sales Sales discounts Sales returns and allowances Transportation-In Cost of goods sold $ 1,29,400 6,100 4,700 5,900 58,800 A. 55.4%. B. 47.8% C. 54.6% D. 50.4%
Transcribed Image Text:Given the following information, what is the gross margin percentage? Sales Sales discounts Sales returns and allowances Transportation-In Cost of goods sold $ 1,29,400 6,100 4,700 5,900 58,800 A. 55.4%. B. 47.8% C. 54.6% D. 50.4%
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