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Exercise D3-25 The following is Ivanhoe Companys income statement for the past year Sales revenue Cost of goods sold 420,000 Gross margin Operating expenses 100,000 Operating income $180,000 $700,000 280,000 Your answer is correct. what is the markup percentage on oost of goods sold? (Round answer to 0 decimal places, e.σ 45%.) Markup percentage 67 HOW ANSWER Your answer is correct. What is thn markup percentage on total cost, (Round answer to 0 decinsa, places, e.g 45%.) Markup percentage SHOW SOLUTIONSHOW 図Your answers correct. what is the gross margin percentage? (Round answer to 0 decimal places, eo as%) Gross maron percertage 40
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