River bend Home Goods made Net Sales Revenue of $82,000, and Cost of Goods Sold (COGS) totalled $49,000 during the period. What was River bend Home Goods' gross profit percentage for this period? (Round your answer to the nearest whole percent.) Options: a) 40% b) 33% c) 59% d) 17%

River bend Home Goods made Net Sales Revenue of $82,000, and Cost of Goods Sold (COGS) totalled $49,000 during the period. What was River bend Home Goods' gross profit percentage for this period? (Round your answer to the nearest whole percent.) Options: a) 40% b) 33% c) 59% d) 17%

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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How can I solve this financial accounting problem using the appropriate financial process?

River bend Home Goods made Net Sales Revenue of $82,000, and Cost of Goods
Sold (COGS) totalled $49,000 during the period.
What was River bend Home Goods' gross profit percentage for this period?
(Round your answer to the nearest whole percent.)
Options:
a) 40%
b) 33%
c) 59%
d) 17%

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