Question: Return on Sales Ratio Using the data in SE5-7, compute Ian's return on sales ratio for the month of January. Exercise SE5-7 Using the data

Return on Sales Ratio Using the data in SE5-7, compute Ian's return on sales ratio for the month of January.

Exercise SE5-7

Using the data below, compute Ian's gross profit percentage for the month of January.

Net sales..... Cost of goods sold Operating expenses. Other income...... Income tax

Net sales..... Cost of goods sold Operating expenses. Other income...... Income tax expense. $12,000 3,000 7,000 500 1,000

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