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what is the gross margin percentage 613985

The following is Talley Company”s 2010 income statement.

Sales revenue


Cost of goods sold


Gross margin


Operating expenses


Operating income

$ 90,000


  1. What is the markup percentage on cost of goods sold?
  2. What is the markup percentage on total cost?
  3. What is the gross margin percentage?
  4. If the company wants to sell a new product that costs $42 wholesale while keeping the same markup structure, what will be the price of the new product?

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