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Gross profit percentage

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Betty Boop Corp 2008 financial statements showed the following statement:

Sales Revenue $900,000
Cost of Goods Sold: $770,000
Beginning Inventory $56,000
Ending Inventory $70,000

What was the company's gross profit percentage for 2008?

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Solution Summary

The solution explains how to calculate gross profit percentage. A company's gross profit percentage for 2008 is examined.

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