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

Question 120

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

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