Tamarisk, inc. rep Inet sales $880,000; cost of goods sold $5. operating expenses $232 00:and net income $74,8 Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%) Profit margin Gross profit rate
Tamarisk, inc. rep Inet sales $880,000; cost of goods sold $5. operating expenses $232 00:and net income $74,8 Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%) Profit margin Gross profit rate
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Tamarisk, Inc. reported net sales $880.000: cost of goods sold $572.000: operating expenses $231.000: and net income $74,800.
Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%)
Profit margin
Gross profit rate](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F93b88cb7-c89d-400f-8e31-f9ad424ea458%2F359bb49c-0cee-411a-a015-8595be39c4e0%2Fw0m4wl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tamarisk, Inc. reported net sales $880.000: cost of goods sold $572.000: operating expenses $231.000: and net income $74,800.
Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%)
Profit margin
Gross profit rate
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