Homework Answers
| Gross Profit Percentage = 28.5 % |
| Explanation : |
| Gross Profit Percentage = (Gross profit / Net sales )*100 |
| Here,Gross profit = Net Sales - Cost of Goods Sold |
| Gross profit = $ 356,700 - $ 255,000 |
| Gross profit = $ 101,700 |
| Here Net sales = $ 356,700 |
| Gross Profit Percentage = (Gross profit / Net sales )*100 |
| Gross Profit Percentage = ($ 101,700 / $ 356,700 )*100 |
| Gross Profit Percentage = 28.5 % |
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