A company shows the following balances: $$\begin{array} { l r }
\text { Sales } &¥ 1,000,000 \
\text { Sales Returns and Allowances } & 180,000 \
\text { Sales Discounts } & 20,000 \
\text { Cost of Goods Sold } & 560,000
\end{array}$$ What is the gross profit rate?

Question

A company shows the following balances: $$\begin{array} { l r } 
\text { Sales } &¥ 1,000,000 \
\text { Sales Returns and Allowances } & 180,000 \
\text { Sales Discounts } & 20,000 \
\text { Cost of Goods Sold } & 560,000
\end{array}$$ What is the gross profit rate?

Quizplus · Accepted Answer

The Answer of A company shows the following balances: $$\begin{array} { l r } 
\text { Sales } &¥ 1,000,000 \
\text { Sales Returns and Allowances } & 180,000 \
\text { Sales Discounts } & 20,000 \
\text { Cost of Goods Sold } & 560,000
\end{array}$$ What is the gross profit rate?

A Company Shows the Following Balances What Is the Gross Profit Rate? A)56% B)70% C)44% D)30

A Company Shows the Following Balances What Is the Gross Profit Rate?
A)56%
B)70%
C)44%
D)30