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13 April, 14:59

Financial information is presented below:Operating expenses $ 45,000Sales returns and allowances 3,000Sales discounts 7,000Sales revenue 160,000Cost of goods sold 96,000The gross profit rate would bea ...36. b ...64. c ...40. d ...34.

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  1. 13 April, 15:34
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    a. 0.36

    Explanation:

    The computation of the gross profit rate is shown below:

    Gross profit rate = Gross profit : Net sales revenue

    where,

    Net sales revenue = Sales revenue - Sales return and allowances - sales discounts

    = $160,000 - $3,000 - $7,000

    = $150,000

    And, the Cost of goods sold is $96,000

    So, the gross profit is

    = $54,000 : $150,000

    = 0.36
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Home » Business » Financial information is presented below:Operating expenses $ 45,000Sales returns and allowances 3,000Sales discounts 7,000Sales revenue 160,000Cost of goods sold 96,000The gross profit rate would bea ...36. b ...64. c ...40. d ...34.
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