Georgia Peach Company Reported Net Sales in June of the Current

question 85

Multiple Choice

Georgia Peach Company reported net sales in June of the current year of $1,000,000. At the beginning of June, the company reported beginning inventory of $368,000. Cost of goods purchased during June amounted to $217,500. The company reported ending inventory at the end of June of $226,750. The company's gross profit rate for June of the current year was:

• A) 35.9%
• B) 18.8%
• C) 81.2%
• D) 64.1%
• E) Impossible to determine from the information provided.

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Definitions:

Product Line

A group of related products under a single brand offered by the same company.

Branding

A marketing decision in which an organization uses a name, phrase, design, symbols, or combination of these to identify its products and distinguish them from those of competitors.

Perceptual Benefits

The advantages a consumer believes they derive from a product or service based on their personal perceptions and feelings.

Gatorade Thirst Quencher

A widely recognized brand of sports drink formulated to hydrate and replenish nutrients and electrolytes lost during physical exertion.