A convenience store buys 1-gallon jugs of milk for $2.99 and sells them for $4.29. What...
A convenience store buys 1-gallon jugs of milk for $2.99 and sells them for $4.29. What is the % margin they earn on the milk?
Homework Answers
Margin = Sales - Cost
Margin = $ 4.29 - $ 2.99 = $ 1.3.
Margin % = ( Margin * 100 ) / Sales.
Margin % = ( $ 1.3 * 100 ) / $ 4.29
Margin % = 30.30%
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