A manufacturer reports sales of $80,000 and cost of goods sold of $60,000. 1. Compute its gross

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A manufacturer reports sales of $80,000 and cost of goods sold of $60,000.

1. Compute its gross profit ratio.
2. If competitors average a 10% gross profit ratio, does this manufacturer compare favorably or unfavorably to its peers?

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Fundamental Accounting Principles

ISBN: 9781260247985

25th Edition

Authors: John J Wild, Ken Shaw

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Question Posted: Oct 27, 2021 02:50 AM

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A manufacturer reports sales of $80,000 and cost of goods sold of $60,000. 1. Compute its gross

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1 Gross profit ratio Gross profit Net sales100 2000080000100 25 Sales 80000 Less COS 60000 ...View the full answer

Fundamental Accounting Principles

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