Olivera,Inc The Gross Profit as a Percentage of Net Sales Is

question 104

Multiple Choice

Olivera,Inc.provides the following data for 2017: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 626,000 \\\hline \text { Sales Returns and Allowances } & 21,000 \\\hline \text { Sales Discounts } & \underline { 6,000 } \\\hline \text { Net Sales Revenue } & 599,000 \\\hline \text { Cost of Goods Sold } & 400,000 \\\hline\end{array}$$ The gross profit as a percentage of net sales is ________.(Round your answer to two decimal places. )

• A)31.79%
• B)33.22%
• C)66.78%
• D)34.22%

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