QUESTION 40 If a company has sales of $630,000, net sales of $600,000, and cost of goods sold of $450,000, the gross profit rate is 71%. 75% 25%. 29%.
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Gross profit is calculated by subtracting the cost of goods sold from net sales. So, Gross Profit = Net Sales - Cost of Goods Sold = $600,000 - $450,000 = $150,000 Show more…
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