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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 21
Inferring Financial Information Using Gross Profit Percentage
Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amount of Cost of Goods Sold did the company report
Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amount of Cost of Goods Sold did the company report
Explanation
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Calculate the cost of goods sold:
Gross...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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