
ACCOUNTING PRINCIPLES V.1 W/ WILEY PLU
12th Edition
ISBN: 9781119157021
Author: Weygandt
Publisher: WILEY C
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Question
Chapter 5, Problem 20Q
To determine
Gross profit rate
It is the financial ratio that evaluates the money left over out of the total revenues after deducting the cost of goods sold. Thus, it shows the relationship between the gross margin and net sales. It is calculated by using the following formula.
To determine: The gross profit rate for the year 2012 and 2013 of A Company.
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