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    Intermediate Accounting Study Set 1
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    Exam 8: Inventory
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    Rounded to the Nearest Whole Percent, a Markup of 35
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Rounded to the Nearest Whole Percent, a Markup of 35

Question 90

Question 90

Multiple Choice

Rounded to the nearest whole percent, a markup of 35% on cost is equivalent to what percentage of gross profit on selling price?


A) 26%
B) 29%
C) 40%
D) 60%

Correct Answer:

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