uring the current year, Peach Industries' reports sales of $184,000 and an average Odays. The inventory balance is $11,000 at the beginning of the year and $13,000 e year. What is Peach's gross margin percentage? Round to one decimal point. 42.8% 44.5% 47.6% 2.4% 3.2%

uring the current year, Peach Industries' reports sales of $184,000 and an average Odays. The inventory balance is $11,000 at the beginning of the year and $13,000 e year. What is Peach's gross margin percentage? Round to one decimal point. 42.8% 44.5% 47.6% 2.4% 3.2%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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During the current year, Peach Industries' reports sales of $184,000 and an average sale period of
50 days. The inventory balance is $11,000 at the beginning of the year and $13,000 at the end of
the year. What is Peach's gross margin percentage? Round to one decimal point.
O 42.8%
O 44.5%
O 47.6%
O 52.4%
56.2%

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