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The Following Information Pertains to Bright Toy Company's Operating Activities

question 38

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The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012.
 Purchases $126,000 Selling and Administrative Expenses 90,000 Merchandise inventory, 1/1/201214,000 Merchandise inventory, 12/31/201210,000 Sales Revenue 250,000\begin{array}{|l|r|}\hline \text { Purchases } & \$ 126,000 \\\hline \text { Selling and Administrative Expenses } & 90,000 \\\hline \text { Merchandise inventory, } 1 / 1 / 2012 & 14,000 \\\hline \text { Merchandise inventory, } 12 / 31 / 2012 & 10,000 \\\hline \text { Sales Revenue } & 250,000 \\\hline\end{array}
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What is the gross profit percentage?

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