Compute net sales, gross profit, and the gross margin ratio for each of the four...
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Accounting
Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e.; 0.2367 should be entered as 23.7%.).
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| Carrier | Lennox | Trane | York | ||||||||
| Sales | $ | 152,000 | $ | 590,000 | $ | 40,000 | $ | 259,000 | |||
| Sales discounts | 2,000 | 13,000 | 600 | 4,000 | |||||||
| Sales returns and allowances | 16,000 | 6,000 | 4,100 | 500 | |||||||
| Cost of goods sold | 90,852 | 369,437 | 26,122 | 149,646 | |||||||
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