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:

Auricle Upward

Movement or orientation of the ear or external part of the ear upwards.

Otoscope

Instrument with a special ear speculum used to examine the deeper structures of the external and middle ear.

Infant

A young child in the earliest period of life, especially from birth to one year of age.

Tinnitus

Ringing heard in one or both ears.