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Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068 Exercise 87
Step-by-step solution
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Step 1 of 3
a.
| 2008 | 2007 |
Net sales | $32,479 | $24,006 |
Cost of sales | (21,334) | (15,852) |
Gross profit | $11,145 | $ 8,154 |
Gross profit/net sales | 34.3% | 34.0% |
The change in the gross profit/net sales ratio during the year ended September 27, 2008 was not terribly significant relative to the prior year results.
Step 2 of 3
Step 3 of 3
Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
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