Answered: If sales = $1,000 and COGS = $600, and…

If sales = $1,000 and COGS = $600, and operating expenses = $100, the gross profit percentage would be: a. 50%. b. 40%. c. 20%. d. 10%.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Provide correct option general accounting

If sales = $1,000 and COGS = $600, and operating expenses =
$100, the gross profit percentage would be:
a. 50%.
b. 40%.
c. 20%.
d. 10%.

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