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What is the markup percentage on total cost

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Reference no: EM132649330

The following is Crane Company's income statement for the past year.

Sales revenue          $900,000

Cost of goods sold      360,000

Gross margin              540,000

Operating expenses      390,000

Operating income       $150,000

Problem 1: What is the markup percentage on total cost? (Round answer to 0 decimal places, e.g. 45%.)

Reference no: EM132649330

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