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United Services and Supplies Reports Net Income of $60,000 and Cost

Question 78

Multiple Choice

United Services and Supplies reports net income of $60,000 and cost of goods sold of $360,000.If US&S's gross profit rate was 40%, net sales were

A) $600,000.
B) $900,000.
C) $960,000.
D) $660,000.

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