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Compute the gross profit percentage

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Question - Thomas Industries reported the following:

Net sales- $480,000

Cost of goods sold-$350,000

Operating expenses-$55,000

Tax rate-40%

Compute the gross profit percentage? (Round your final answer to the nearest percentage.)

A. 27%.

B. 15%.

C. 29%.

D. 73%.

Reference no: EM132158273

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