GS Retail reported the following for the past two fiscal years: _____________________________ 2017___________2016 Net sales.....$950,000.600,000 Cost of
Question:
GS Retail reported the following for the past two fiscal years:
_____________________________ 2017___________2016
Net sales………………………....….$950,000………….600,000
Cost of goods sold……………...…600000…………...500000
Profit………………………….........……70,000…………….65,000
(a) Calculate the gross profit margin and profit margin for both years.
(b) Comment on any changes in profitability.
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a 2017 Gross profit margin 3684 950000 600000 950000 Profit margin 737 700...View the full answer
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