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Calculate the gross profit percentages for each of the

Gross Profit Ratio Calculations

Calculate the gross profit percentages for each of the following situations and, based on these results, identify which situations are most preferable:

a. Sales of $500,000, cost of goods sold of $300,000
b. Sales of $600,000, gross profit of $300,000
c. Sales of $600,000, cost of goods sold of $250,000
d. Sales of $500,000, cost of goods sold of $100,000

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Accounting Basics: Calculate the gross profit percentages for each of the

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