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The following is Pharoah Company's income statement for the past year. Sales revenue Cost of goods sold Gross margin Operating expenses Operating income (a) $486,000 291,600 Markup percentage 194,400 113,400 $81,000 What is the markup percentage on cost of goods sold? (Round answer to O decimal places, e.g. 45%.) %

The following is Pharoah Company's income statement for the past year. Sales revenue Cost of goods sold Gross margin Operating expenses Operating income (a) $486,000 291,600 Markup percentage 194,400 113,400 $81,000 What is the markup percentage on cost of goods sold? (Round answer to O decimal places, e.g. 45%.) %

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following is Pharoah Company's income statement for the past year. Sales revenue Cost of goods sold Gross margin Operating expenses Operating income (a) $486,000 291,600 194,400 113,400 $81,000 What is the markup percentage on cost of goods sold? (Round answer to O decimal places, e.g. 45%.) Markup percentage %
Transcribed Image Text:The following is Pharoah Company's income statement for the past year. Sales revenue Cost of goods sold Gross margin Operating expenses Operating income (a) $486,000 291,600 194,400 113,400 $81,000 What is the markup percentage on cost of goods sold? (Round answer to O decimal places, e.g. 45%.) Markup percentage %
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