A Company Reported the Following Information for the Month of November

question 41

Essay

A company reported the following information for the month of November:
$$\begin{array} { | l | r | } \hline \text { Sales } & \$ 50,475 \\\hline \text { Sales discounts } & 235 \\\hline \text { Sales returns and allowances } & 2,840 \\\hline \text { Cost of goods sold } & 33,975 \\\hline\end{array}$$
Required: Calculate this company's gross margin ratio.

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Definitions:

P(A | B)

Represents the conditional probability of event A occurring given that event B has occurred.

Independent Events

Two or more events in probability where the occurrence of one does not affect the occurrence of the other.

P(A ∪ B)

The probability of the union of two events, A and B, occurring.

Graduate Assistantships

Financial aid options for graduate students involving part-time work in teaching or research in exchange for tuition waivers and a stipend.