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Compute the Gross Profit Rate When Sales Are $400,000; Net

Question 55

Multiple Choice

Compute the gross profit rate when sales are $400,000; net sales are $380,000 and gross profits are $125,000.

A) 31.25%
B) 32.89%
C) 0.3125 to 1
D) 0.3289 to 1

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