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Calculate Gross Profit Ratio Given the Following Information: Accounts Receivable

Question 135

Multiple Choice

Calculate gross profit ratio given the following information: accounts receivable = $40,000; inventory = $80,000; receivable turnover = 25 times; inventory turnover = 6 times.


A) 50%
B) 51%
C) 52%
D) 53%
E) 54%

Correct Answer:

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