Answer: Option ( C ) 0.2
Explanation:
Gross Profit = Net Sales - Cost of goods sold
Gross profit = 1.5 - 1.2 = 0.3
Gross profit ratio = Gross profit / Net sales
Gross profit ratio = 0.3 / 1.5 = 0.2 ( Answer)
XYZ company had net sales 1.5 million in 2018. Cost of goods sold was 1.2 million....
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