The gross profit rate would be a. .454. b. .546. c. .500. d. .538.

The gross profit rate would be
a. .454.
b. .546.
c. .500.
d. .538.
by

1 Answer

Answer :

c. .500.
by

Related questions

In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was a. 64%. b. 36%. c. 40%. d. 60%.

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Last Answer : b. 36%.

At the beginning of the year, Midtown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,600,000. If Midtown Athletic reported ending inventory of $600,000 and sales of $2,000,000, the company’s cost of goods sold and gross profit rate must be a. $1,000,000 and 50%. b. $1,400,000 and 30%. c. $1,000,000 and 30%.

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Last Answer : TRUE

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Last Answer : Rs.10.70

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