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The Tech Solutions Co. has a gross profit rate of 30%. The cost of goods sold for the company is $500,000. What is the gross profit?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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The Tech Solutions Co. has a gross profit rate of 30%. The cost of goods sold for the company is $500,000. What is the gross profit?

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