Calculate Gross Profit Ratio Given the Following Information: Accounts Receivable

question 328

Multiple Choice

Calculate gross profit ratio given the following information: accounts receivable = $3,500; inventory = $4,500; receivable turnover = 80 times; inventory turnover = 18 times.

• A) 70%
• B) 71%
• C) 72%
• D) 73%
• E) 74%

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