Router SoftwareRouter Software earned net sales revenue of $67,000,000 in 2018. Cost of goods sold was...
Router SoftwareRouter Software earned net sales revenue of $67,000,000 in 2018. Cost of goods sold was $44,220,000, and net income reached $8,000,000, the company's highest ever. Compute the company's gross profit percentage for 2018.
First, select the formula. Then enter the applicable amounts and calculate the gross profit percentage.
Homework Answers
CALACULATION OF GROSS PROFIT PERCENTAGE :
FORMULA :
GROSS PROFIT PERCENTAGE = ( Gross profit ÷ Sales ) × 100
GROSS PROFIT = Sales - Cost of goods sold
GIVEN :
Sales = $67000000 ; Cost of goods sold = $44220000
Gorss profit = $67000000 - $44220000 = $22780000
Therefore,
Gross profit percentage
= ( $22780000 ÷ $67000000 )×100
= 0.34 × 100
= 34%.
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