The following extract from the income statement was prepared for the business owned by Ismail Cook. Calculate
Question:
The following extract from the income statement was prepared for the business owned by Ismail Cook.
Calculate the following ratios:
a. Gross profit margin
b. Mark-up
c. Rate of inventory turnover.
In each case, state the formula used.
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Step by Step Answer:
a Gross profit margin Gross profit Revenue x 100 Gross profit Revenue Cost of sales ...View the full answer
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