The total cost valuation of a retailer's inventory is $120,000, while the total retail valuation of sales was $200,000. Approximately how much of every retail sales dollar is made up of merchandise cost?

The total cost valuation of a retailer's inventory is $120,000, while the total retail valuation of sales was $200,000. Approximately how much of every retail sales dollar is made up of merchandise cost?

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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Please solve this general accounting question

The total cost valuation of a retailer's inventory
is $120,000, while the total retail valuation of
sales was $200,000. Approximately how much
of every retail sales dollar is made up of
merchandise cost?

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