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Cola Company made sales of $36,000 million during 2014. Cost of goods sold for the year totaled $14,400 million. At the end of 2013,
Cola Company made sales of $36,000 million during 2014. Cost of goods sold for the year totaled $14,400 million. At the end of 2013, Cola's inventory stood at $1,300 million, and Cola ended 2014 with inventory of $1,900 million. Compute Cola's gross profit percentage and rate of inventory turnover for 2014. Begin by computing Cola's gross profit percentage for 2014. (Round your answer to the nearest tenth of a percent, X.X%.) Cola's gross profit percentage for 2014 is %.
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