A company had net sales of $801,200 and cost of goods sold of $568,910. Its net...

Question

Question

Answer 1

Answer #1

Gross margin ratio is given by:

Gross margin ratio = Sales - Cost of goods sold / Sales

putting the values in the above formula, we get,

Gross margin ratio = ($801200 - $568910) / $801200

Gross Margin ratio = $232290 / $801200 = 28.99%

Answer 2

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