Multiple Choice
Mack Jacoby sells building supplies. His annual sales equal $450,000. His total fixed costs annually equal $75,000. The cost of goods sold annually is $335,000. Calculate his gross profit percentage.
A) 11.9%
B) 20.3%
C) 25.6%
D) 34.3%
E) Cannot be determined from information given
Correct Answer:
Verified
Correct Answer:
Verified
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