Mercer,Inc $$\begin{array} { | l | r | } \hline \text { Net Sales Revenue } & 598,000 \\\hline \text { Cost of Goods Sold } & 360,000 \\\hline\end{array}$$

question 108

Multiple Choice

Mercer,Inc.provides the following data for 2019: $$\begin{array} { | l | r | } \hline \text { Net Sales Revenue } & 598,000 \\\hline \text { Cost of Goods Sold } & 360,000 \\\hline\end{array}$$ The gross profit as a percentage of net sales is ________.(Round your answer to two decimal places.)

• A) 37.96%
• B) 39.80%
• C) 60.20%
• D) 40.8%

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Definitions:

Economic Concern

Issues or situations that affect the well-being of an economy, such as inflation, unemployment, and economic growth.

Double-Digit Inflation

An inflation rate that reaches or exceeds 10%, indicating rapid increases in prices.

Double-Digit Unemployment

A situation where the unemployment rate reaches or exceeds 10 percent, indicating a high level of joblessness.

Stagflation

A condition of slow economic growth and relatively high unemployment—a period of stagflation—accompanied by rising prices (inflation).