Oxford Packing Company reported net sales in November of the current year of $1,000,000. At the beginning of November, the company reported beginning inventory of $368,000. Cost of goods purchased during November amounted to $217,500. The company reported ending inventory at the end of November of $226,750.The company's gross profit rate for November of the current year was:
A. 58.6%
B. 35.9%
C. 64.1%
D. 81.2%
E. 18.8%
Answer: C
You might also like to view...
Vertical analysis is a comparison of financial statement items for a single company over a period of time
a. True b. False Indicate whether the statement is true or false
According to one explanation of leadership, becoming a leader is much like the process of becoming an integrated human being
Indicate whether the statement is true or false.
A conditional promise is generally considered sufficient consideration
Indicate whether the statement is true or false
Under the UCC statute of frauds, which of the following terms must be included in a writing in order to satisfy the writing requirement?
A) The price of the goods B) The quantity of the goods C) The signatures and names of the buyer and the seller D) The time and place for delivery