Question: Can you explain the correct methodology to solve this general accounting problem? Mountain Ridge Outfitters reported the following information for the month of April: Sales:

Can you explain the correct methodology to solve this general accounting problem?

Mountain Ridge Outfitters reported the following information for the month of April: Sales: $125,000 Sales Discounts: $1,250 - Sales Returns & Allowances: $3,750 Cost of Goods Sold: $72,500 Calculate this company's gross margin ratio

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