Gambit Ltd. results for the year ended December 31, 2019, are as follows: Sales revenue...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Gambit Ltd. results for the year ended December 31, 2019, are as follows: Sales revenue $780,000; Cost of goods sold $610,000; Beginning inventory $80,000; Ending inventory $60,000. The gross profit margin for 2019 is approximately:
Select one:
a.
21.8%
b.
24.4%
c.
14.1%
d.
29.5%
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
