12) Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit to sales)? A) 65% B) 55% C) 73.3% D) 35%

12) Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit to sales)? A) 65% B) 55% C) 73.3% D) 35% 12) Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit to sales)? A) 65% B) 55% C) 73.3% D) 35%