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Determine the gross profit rate

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Reference no: EM132998609

Question - Financial information is presented below:

Operating Expenses Php 45,000

Sales Returns and Allowances 13,000

Sales Discounts 6,000

Sales 150,000

Cost of Goods Sold 67,000

Required - Determine the gross profit rate?

A. 55.3%

B. 48.9%

C. 51.1%

D. 53.5%

Reference no: EM132998609

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