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Financial Accounting
Learn the toughest concepts covered in your Financial Accounting class with step-by-step video tutorials and practice problems.
Financial Statement Analysis
Ratios: Gross Profit Rate
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1
concept
Ratios: Gross Profit Percentage
4m
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2
Problem
If XYZ Company has net sales of $500,000 and cost of goods sold of $320,000, the gross profit percentage is:
A
18%
B
36%
C
48%
D
64%
3
Problem
A company has sales of $300,000 and gross profit of $135,000. What is the company’s cost of goods sold?
A
$135,000
B
$165,000
C
$435,000
D
Not enough information.
4
Problem
A company has sales of $300,000 and gross profit of $135,000. What is the gross profit percentage?
A
40%
B
45%
C
55%
D
60%