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

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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Question

account expert need

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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