Based on the sales and the cost of goods sold, the gross profit rate would be b. 0.26.
What is the gross profit rate?
First, find the gross profit:
= Sales - Sales discounts - Sales returns - cost of goods sold
= 154,000 - 6,000 - 15,000 - 98,000
= $35,000
Gross profit rate is:
= 35,000 / (154,000 - 6,000 - 15,000)
= 0.26
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