Gambit Ltd. results for the year ended December 31, 2019, are as follows: Sales revenue...
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Accounting
Gambit Ltd. results for the year ended December 31, 2019, are as follows: Sales revenue $780,000; Cost of goods sold $610,000; Beginning inventory $80,000; Ending inventory $60,000. The gross profit margin for 2019 is approximately:
Select one:
a.
21.8%
b.
24.4%
c.
14.1%
d.
29.5%
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