Pacific Grove Apparel made Net Sales Revenue of $120,000 and Cost of Goods Sold totaled $78,000. What was Pacific Grove Apparel's gross profit percentage for this period? Round your answer to the nearest whole percent. a. 42% b. 30% c. 65% d. 35%

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
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Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Round your answer to the nearest whole percent? Financial accounting

Pacific Grove Apparel made Net Sales Revenue of $120,000
and Cost of Goods Sold totaled $78,000.
What was Pacific Grove Apparel's gross profit percentage
for this period?
Round your answer to the nearest whole percent.
a. 42%
b. 30%
c. 65%
d. 35%
Transcribed Image Text:Pacific Grove Apparel made Net Sales Revenue of $120,000 and Cost of Goods Sold totaled $78,000. What was Pacific Grove Apparel's gross profit percentage for this period? Round your answer to the nearest whole percent. a. 42% b. 30% c. 65% d. 35%
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