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Pine crest Manufacturing provides the following data: • Sales Revenue: $145,000 Sales Returns and Allowances: $5,000 • . Sales Discounts: $2,000 Cost of Goods Sold: $83,000 Operating Expenses: $19,000 What is the gross profit rate? a. 0.40 b. 0.44 c. 0.35 d. 0.30

Pine crest Manufacturing provides the following data: • Sales Revenue: $145,000 Sales Returns and Allowances: $5,000 • . Sales Discounts: $2,000 Cost of Goods Sold: $83,000 Operating Expenses: $19,000 What is the gross profit rate? a. 0.40 b. 0.44 c. 0.35 d. 0.30

Intermediate Accounting: Reporting And Analysis
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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Pine crest Manufacturing provides the following data: • Sales Revenue: $145,000 Sales Returns and Allowances: $5,000 • . Sales Discounts: $2,000 Cost of Goods Sold: $83,000 Operating Expenses: $19,000 What is the gross profit rate? a. 0.40 b. 0.44 c. 0.35 d. 0.30
Transcribed Image Text:Pine crest Manufacturing provides the following data: • Sales Revenue: $145,000 Sales Returns and Allowances: $5,000 • . Sales Discounts: $2,000 Cost of Goods Sold: $83,000 Operating Expenses: $19,000 What is the gross profit rate? a. 0.40 b. 0.44 c. 0.35 d. 0.30
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