Which of the following is the correct formula for calculating the Gross Margin?
A) Retail Selling Price - Merchandise Costs = Gross Margin
B) Retail Selling Price - Salesperson's Price = Gross Margin
C) Retail Selling Price - Cash and Quantity Discount = Gross Margin
D) Retail Selling Price - Earned Discount = Gross Margin
E) Retail Selling Price - Allowances = Gross Margin
Correct Answer:
Verified
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