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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.