Multiple Choice
Use the following information for questions: sales $1,500,000; gross profit $640,000; net income $40,000 and income tax expense $35,000;
-What is the common size percentage for the cost of sales?
A) 3.0%
B) 37.7%
C) 42.7%
D) 57.3%
Correct Answer:
Verified
Correct Answer:
Verified
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