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What is the common-size percentage for the cost of sales

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Reference no: EM132517450

Question 1: Given the following data: sales $1,500,000; gross profit $640,000; net income $40,000 and income tax expense $35,000. What is the common-size percentage for the cost of sales?

Option a) 3.0%

Option b) 37.7%

Option c) 42.7%

Option d) 57.3%

Reference no: EM132517450

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