Question
Asked Mar 2, 2020
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Using the data below, compute lan's gross profit percentage for the month of January.
Net Sales
Cost of goods sold
Operating expenses
Other income
Income tax expense
$12,000
3,000
7,000
500
1,000
Round answer to the nearest whole percentage.
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Using the data below, compute lan's gross profit percentage for the month of January. Net Sales Cost of goods sold Operating expenses Other income Income tax expense $12,000 3,000 7,000 500 1,000 Round answer to the nearest whole percentage.

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Expert Answer

Step 1

Step 1:

Compute the gross profit as follows:

Accounting homework question answer, step 1, image 1

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