Mercer,Inc.provides the following data for 2019:
The gross profit as a percentage of net sales is ________.(Round your answer to two decimal places. )
Definitions:
Producing Firewood
The process of cutting, splitting, drying, and preparing wood to be used as fuel for heating or cooking.
Producing Wool
The process of growing, harvesting, and processing wool fibers from sheep or other animals for use in textile production.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen.
Comparative Advantage
The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.
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