A company's net sales are $775420 it's costs of goods sold are $413890, and its net...

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A company's net sales are $775420 it's costs of goods sold are $413890, and its net...

A company's net sales are $775420 it's costs of goods sold are $413890, and its net income is $117220. its gross margin ratio equals
a) 53.4%
b) 31.5%
c)28.3%
c) 46.6%

business accounting

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Answer 1

Answer #1

Solution-

Net sales = $775420

Cost of goods sold = $413890

Gross margin ratio = (Net sales - Cost of goods sold ) / Net sales

= ($775420 - $413890) / $775420

= 0.466 or 46.6%

Ans :- Therefore the company's gross margin ratio = 46.6%

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Answer 2

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Add Answer to: A company's net sales are $775420 it's costs of goods sold are $413890, and its net...

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A company's net sales are $775420 it's costs of goods sold are $413890, and its net...