Financial information is presented below: $$\begin{array} { l r }
\text { Operating expenses } & \$ 45,000 \
\text { Sales returns and allowances } & 3,000 \
\text { Sales discounts } & 7,000 \
\text { Sales revenue } & 160,000 \
\text { Cost of goods sold } & 96,000
\end{array}$$ The gross profit rate would be
A)$36.
B)$64.
C)$40.
D)$34.

Question

Financial information is presented below: $$\begin{array} { l r } 
\text { Operating expenses } & \$ 45,000 \
\text { Sales returns and allowances } & 3,000 \
\text { Sales discounts } & 7,000 \
\text { Sales revenue } & 160,000 \
\text { Cost of goods sold } & 96,000
\end{array}$$ The gross profit rate would be
A)$36.
B)$64.
C)$40.
D)$34.

Quizplus · Accepted Answer

The Answer of Financial information is presented below: $$\begin{array} { l r } 
\text { Operating expenses } & \$ 45,000 \
\text { Sales returns and allowances } & 3,000 \
\text { Sales discounts } & 7,000 \
\text { Sales revenue } & 160,000 \
\text { Cost of goods sold } & 96,000
\end{array}$$ The gross profit rate would be
A)$36.
B)$64.
C)$40.
D)$34.

Financial Information Is Presented Below The Gross Profit Rate Would Be A)$36

Financial Information Is Presented Below The Gross Profit Rate Would Be
A)$36