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A Company's Net Sales Were $676,600, Its Cost of Goods

Question 77

Multiple Choice

A company's net sales were $676,600, its cost of goods sold was $236,810 and its net income was $33,750. Its gross margin ratio equals:

A) 35%.
B) 9.6%.
C) 5%.
D) 285.7%.
E) 65%.

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