A company shows the following balances: $$\begin{array} { l r }
\text { Sales Revenue } & \$ 2,500,000 \
\text { Sales Returns and Allowances } & 450,000 \
\text { Sales Discounts| } & 50,000 \
\text { Cost of Goods Sold } & 1,400,000
\end{array}$$ What is the gross profit rate?
A) 30%
B) 44%
C) 56%
D) 70%

Question

A company shows the following balances: $$\begin{array} { l r } 
\text { Sales Revenue } & \$ 2,500,000 \
\text { Sales Returns and Allowances } & 450,000 \
\text { Sales Discounts| } & 50,000 \
\text { Cost of Goods Sold } & 1,400,000
\end{array}$$ What is the gross profit rate?
A) 30%
B) 44%
C) 56%
D) 70%

Quizplus · Accepted Answer

The Answer of A company shows the following balances: $$\begin{array} { l r } 
\text { Sales Revenue } & \$ 2,500,000 \
\text { Sales Returns and Allowances } & 450,000 \
\text { Sales Discounts| } & 50,000 \
\text { Cost of Goods Sold } & 1,400,000
\end{array}$$ What is the gross profit rate?
A) 30%
B) 44%
C) 56%
D) 70%

A Company Shows the Following Balances What Is the Gross Profit Rate? A) 30% B) 44

A Company Shows the Following Balances What Is the Gross Profit Rate?
A) 30%
B) 44