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A Company's Net Sales Are $775,420, Its Costs of Goods

Question 155

Multiple Choice

A company's net sales are $775,420, its costs of goods sold are $413,890, and its net income is $117,220. Its gross margin ratio equals:

A) 46.6%.
B) 53.4%.
C) 28.3%.
D) 31.5%.
E) 40.5%.

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