A company shows the following balances: $$\begin{array} { l r }
\text { Sales Revenue } & \$ 1,000,000 \
\text { Sales Returns and Allowances } & 175,000 \
\text { Sales Discounts } & 25,000 \
\text { Cost of Goods Sold } & 560,000
\end{array}$$ What is the gross profit rate?
A) 56%
B) 70%
C) 44%
D) 30%

Question

A company shows the following balances: $$\begin{array} { l r } 
\text { Sales Revenue } & \$ 1,000,000 \
\text { Sales Returns and Allowances } & 175,000 \
\text { Sales Discounts } & 25,000 \
\text { Cost of Goods Sold } & 560,000
\end{array}$$ What is the gross profit rate?
A) 56%
B) 70%
C) 44%
D) 30%

Quizplus · Accepted Answer

The Answer of A company shows the following balances: $$\begin{array} { l r } 
\text { Sales Revenue } & \$ 1,000,000 \
\text { Sales Returns and Allowances } & 175,000 \
\text { Sales Discounts } & 25,000 \
\text { Cost of Goods Sold } & 560,000
\end{array}$$ What is the gross profit rate?
A) 56%
B) 70%
C) 44%
D) 30%

A Company Shows the Following Balances What Is the Gross Profit Rate? A) 56% B) 70

A Company Shows the Following Balances What Is the Gross Profit Rate?
A) 56%
B) 70