Financial information is presented below: Operating expenses $ 45000 Sales returns and allowances 3000 Sales discounts...

Question

Question

Financial information is presented below:

Operating expenses	$ 45000
Sales returns and allowances	3000
Sales discounts	8000
Sales revenue	180000
Cost of goods sold	101000

The gross profit rate would be

0.40.

0.60.

0.38.

0.44.

business accounting

Answer 1

Answer #1

Net Sales = Sales Revenue - Sales returns and allowances - Sales discount = $180,000 - 3000 - 8,000 = $ 1,69,000 Gross Profit

Answer 2

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