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What is wedge gross profit percentage

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Question - Wedge Company had a $32,000 beginning inventory and a $35,000 ending inventory. Net sales were $149,000; purchases, $93,000; purchase returns and allowances, $5,000; and freight in, $7,000. Cost of goods sold for the period is $92,000.

What is Wedge's gross profit percentage (rounded to the nearest percentage)?

A. 23%

B. 21%

C. 62%

D. 38%

Reference no: EM131651375

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