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A Company Had Net Sales of $752,000 and Cost of Goods

Question 92

Multiple Choice

A company had net sales of $752,000 and cost of goods sold of $543,000. Its net income was $17,530. The company's gross margin ratio equals:

A) 18.9%
B) 34.7%
C) 35.2%
D) 27.8%
E) 24.5%

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