A Company Shows the Following Balances What Is the Gross Profit Rate?
A)60%
B)75%
C)40%
D)25

question 156

Multiple Choice

A company shows the following balances: $\begin{array}{lr}\text { Sales Revenue } & \$ 1,000,000 \\\text { Sales Returns and Allowances } & 175,000 \\\text { Sales Discounts } & 25,000 \\\text { Cost of Goods Sold } & 600,000\end{array}$ What is the gross profit rate?

• A)60%
• B)75%
• C)40%
• D)25%

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