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Stan's Discount Floor Covering made Net Sales Revenue of $100,000 and the Cost of Goods Sold totaled $60,000. What is the gross profit percentage for this period? a. 60% b. 20% c. 30% d. 40%

Stan's Discount Floor Covering made Net Sales Revenue of $100,000 and the Cost of Goods Sold totaled $60,000. What is the gross profit percentage for this period? a. 60% b. 20% c. 30% d. 40%

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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Stan's Discount Floor Covering made Net Sales Revenue of $100,000 and the Cost of Goods Sold totaled $60,000. What is the gross profit percentage for this period? a. 60% b. 20% c. 30% d. 40%
Transcribed Image Text:Stan's Discount Floor Covering made Net Sales Revenue of $100,000 and the Cost of Goods Sold totaled $60,000. What is the gross profit percentage for this period? a. 60% b. 20% c. 30% d. 40%
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