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%.

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%.
by

1 Answer

Answer :

b. 36%.
by

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