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gross margin percent?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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Question

chapter 3

Given the information below, what is the gross margin percent? Round your answer to two decimal places and add a percent sign (i.e. 15.37%)

Cost of Merchandise Sold	51.30%
Expenses	$317,820
Profit	4.65%

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