A company's net sales were $676,600, its cost of good sold was $236,810 and its net income was $33,750. Its gross margin ratio equals:
A) 5%.
B) 9.6%.
C) 35%.
D) 65%.
E) 285.7%.
Correct Answer:
Verified
Q90: Sales less sales discounts less sales returns
Q91: A company purchased $1,800 of merchandise on
Q92: Sales returns:
A) Refer to merchandise that customers
Q93: The credit terms 2/10, n/30 are interpreted
Q94: A debit memorandum is:
A) Required whenever a
Q96: A company had net sales and cost
Q97: On October 1, Robinson Company sold merchandise
Q98: All of the following statements regarding sales
Q99: The gross margin ratio:
A) Is also called
Q100: A company purchased $4,000 worth of merchandise.
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents