If Kingbird, Inc. has net sales of $425000 and cost of goods sold of $324000, Kingbird’s...

Question

Question

If Kingbird, Inc. has net sales of $425000 and cost of goods sold of $324000, Kingbird’s gross profit rate is

Answer 1

Answer #1

Net Sales Less: Cost of goods sold Gross profit 425000 324000 101000 Gross Profit rate = Net Profit/Net Sales Gross profit 10

Note: Final percent answer rounded to 1 decimal as it's not mentioned in question.

Answer 2

Similar Homework Help Questions

Kingbird, Inc. reported net sales of $267,000, cost of goods sold of $160,200, operating expenses of...

Kingbird, Inc. reported net sales of $267,000, cost of goods sold of $160,200, operating expenses of $48,900, net income of $42.720, beginning total assets of $532,300, and ending total assets of $618,100. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%) Profit margin 96 Gross profit rate 96
Kingbird, Inc. had net credit sales of $3834000 and cost of goods sold of $3774000 for...

Kingbird, Inc. had net credit sales of $3834000 and cost of goods sold of $3774000 for the year. The Accounts Receivable balances at the beginning and end of the year were $664000 and $756000, respectively. The accounts receivable turnover was 5.1 times. 5.3 times. 5.4 times. 5.8 times.
Fill in the missing amounts. Blue Spruce Corp. Kingbird, Inc. Sales revenue $110,000 $ Sales returns...

Fill in the missing amounts. Blue Spruce Corp. Kingbird, Inc. Sales revenue $110,000 $ Sales returns and allowances 7,000 Net sales 104,000 126,000 Cost of goods sold 67,600 Gross profit 46,620 Operating expenses 16,640 Net income 26,460 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to O decimal places, e.g. 15%.) Blue Spruce Corp. Kingbird, Inc. Profit margin Gross profit rate eTextbook and Media

Tamarisk, Inc. reported net sales $880,000; cost of goods sold $572,000; operating expenses $231.000; and net...

Tamarisk, Inc. reported net sales $880,000; cost of goods sold $572,000; operating expenses $231.000; and net income $74,800. Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%.) Profit margin Gross profit rate
Mercer, Inc. provides the following data for 2019: Net Sales Revenue Cost of Goods Sold 598,000...

Mercer, Inc. provides the following data for 2019: Net Sales Revenue Cost of Goods Sold 598,000 - 370,000 The gross profit as a percentage of net sales is (Round your answer to two decimal places.) O A. 36.25% OB. 61.87% O C. 39.13% OD. 38.13%
A company has net sales of $625,600 and cost of goods sold of $412,896. The company's...

A company has net sales of $625,600 and cost of goods sold of $412,896. The company's gross profit percentage is: Multiple Choice Ο 0.33%. Ο 2.94%. Ο 349%. Ο 66%.

A company has net sales of $729,000 and cost of goods sold of $292,000. Its gross...

A company has net sales of $729,000 and cost of goods sold of $292,000. Its gross profit equals: Multiple Choice $(437,000). $729,000. $292,000. $437,000. $1,021,000.
CALCULATOR BACK NEXT Question 15 Ivanhoe Co has net sales of $147,000, cost of goods sold...

CALCULATOR BACK NEXT Question 15 Ivanhoe Co has net sales of $147,000, cost of goods sold of $80,000, and operating expenses of $30,000. What is its gross profit and its gross profit rate? (Round gross profit rate to 1 decimal place... 52.59.) Gross pront Gross profit rate Click If you would like to show Work for this question Open Show Work LINK TO TEXT Question Attempts: 0 of 5 used SAVET SUBMIT ANSWER
Sheridan Company reported net sales $700,000; cost of goods sold $455,000; operating expenses $183,750; and net...

Sheridan Company reported net sales $700,000; cost of goods sold $455,000; operating expenses $183,750; and net income $59,500 Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, es. 10.2%) Profit margin Gross profit rate

A company has net sales of $222,000, cost of goods sold $89,000, operating expenses of $55,000,...

A company has net sales of $222,000, cost of goods sold $89,000, operating expenses of $55,000, and other expenses of $5,000. The company's net income IS: A. OB. O C. OD, $78,000. $128,000. $34,000. $73,000. A customer purchased items on account from Silverfish, Inc. After a few days, the customer returned the goods. Silverfish, Inc. will issue a: OA. debit memorandum. OB, return receipt. C. credit memorandum O D. refund check. Companies that want a "middle ground" solution to net...