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A Company Shows the Following Balances What Is the Gross Profit Rate?
A) 34%
B) 46

Question 85

Multiple Choice

A company shows the following balances:  Sales Revenue $2,500,000 Sales Returns and Allowances 400,000 Sales Discounts 50,000 Cost of Goods Sold 1,353,000\begin{array} { l r } \text { Sales Revenue } & \$ 2,500,000 \\\text { Sales Returns and Allowances } & 400,000 \\\text { Sales Discounts } & 50,000 \\\text { Cost of Goods Sold } & 1,353,000\end{array} What is the gross profit rate?


A) 34%
B) 46%
C) 66%
D) 54%

Correct Answer:

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