Indiana Printing Co. has net sales of $750,000 and cost of goods sold (COGS) of $560,000. What is Indiana Printing Co.'s gross profit rate?

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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What is the gross profit rate on these general accounting question?

Indiana Printing Co. has net sales of
$750,000 and cost of goods sold (COGS) of
$560,000.
What is Indiana Printing Co.'s gross profit
rate?
Transcribed Image Text:Indiana Printing Co. has net sales of $750,000 and cost of goods sold (COGS) of $560,000. What is Indiana Printing Co.'s gross profit rate?
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