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  3. in the following scenario, what is the gross margi

In the following scenario, what is the gross margin percent? Gross sales were $250,000, sales...

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Question

Accounting

In the following scenario, what is the gross margin percent? Gross sales were $250,000, sales returns and allowances were $20,000 sales discounts were $9400, cost of goods sold was $103,800, advertising expenses were $17,000, wages and salaries were $53,000, and general and administrative expenses were $29,000.

Responses

47.1 %

46.6 %

53.4 %

52.9 %

Answer & Explanation Solved by verified expert
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