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Sales for a firm are $541,000, cost of goods sold are $401,000, and interest expenses are $17,000. What is the gross profit margin? The gross profit margin is A. 26.9% B. 21.2% C. 26.4% D. 25.9% E. 26.2%

Sales for a firm are $541,000, cost of goods sold are $401,000, and interest expenses are $17,000. What is the gross profit margin? The gross profit margin is A. 26.9% B. 21.2% C. 26.4% D. 25.9% E. 26.2%

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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What is the gross profit margin?? General accounting

Sales for a firm are $541,000, cost of goods sold are $401,000, and interest expenses are $17,000. What is the gross profit margin? The gross profit margin is A. 26.9% B. 21.2% C. 26.4% D. 25.9% E. 26.2%
Transcribed Image Text:Sales for a firm are $541,000, cost of goods sold are $401,000, and interest expenses are $17,000. What is the gross profit margin? The gross profit margin is A. 26.9% B. 21.2% C. 26.4% D. 25.9% E. 26.2%
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