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Use the following data for this question: Item Operating Expenses Value $50,000 Sales Returns and Allowances $15,000 Sales Discounts Sales Cost of Goods Sold (COGS) The profit margin ratio would be: a. 0.325 b. 0.275 c. 0.290 d. 0.245 $5,000 $200,000 $80,000

Use the following data for this question: Item Operating Expenses Value $50,000 Sales Returns and Allowances $15,000 Sales Discounts Sales Cost of Goods Sold (COGS) The profit margin ratio would be: a. 0.325 b. 0.275 c. 0.290 d. 0.245 $5,000 $200,000 $80,000

FINANCIAL ACCOUNTING
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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What is the profit margin ratio on this general accounting question?

Use the following data for this question: Item Operating Expenses Value $50,000 Sales Returns and Allowances $15,000 Sales Discounts Sales Cost of Goods Sold (COGS) The profit margin ratio would be: a. 0.325 b. 0.275 c. 0.290 d. 0.245 $5,000 $200,000 $80,000
Transcribed Image Text:Use the following data for this question: Item Operating Expenses Value $50,000 Sales Returns and Allowances $15,000 Sales Discounts Sales Cost of Goods Sold (COGS) The profit margin ratio would be: a. 0.325 b. 0.275 c. 0.290 d. 0.245 $5,000 $200,000 $80,000
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