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Question 3 (0.2 points) Calculate the gross profit margin for a firm with sales of $65,000,000 and cost of goods sold of $41,

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Answer #1

Gross profit=Sales-Cost of goods sold

=65,000,000-41,000,000=24,000,000

Gross profit margin=Gross profit/Sales

=24,000,000/65,000,000

=36.92%(Approx).

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