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For the year, Marvell Incorporated reports net sales of $100,000, cost of goods sold of...

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Accounting

For the year, Marvell Incorporated reports net sales of $100,000, cost of goods sold of $80,000, and an average inventory balance of $40,000. What is Marvell's gross profit ratio a. 20%. b. 25%. c. 40%. d. 50%

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