ABC reported the following data for its first year of operations: Net sales $2,800 Cost of goods sold 1,680 Operating expenses 880 Ending inventories 820 What is ABC's gross profit ratio (round to nearest whole percentage, just put in the number with no %)? numeric response::?????????
ABC reported the following data for its first year of operations: Net sales $2,800 Cost of goods sold 1,680 Operating expenses 880 Ending inventories 820 What is ABC's gross profit ratio (round to nearest whole percentage, just put in the number with no %)? numeric response::?????????
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 11RE: Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year,...
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ABC reported the following data for its first year of operations:
Net sales |
$2,800 |
Cost of goods sold |
1,680 |
Operating expenses |
880 |
Ending inventories |
820 |
numeric response::?????????
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