Exercise 9.10
Calculate gross profit, cost of goods sold, and selling price
MBI Inc, had sales of $900 million for fiscal 2019. The company's gross profit ratio for that year was 37.5%
The company's gross profit ratio for that year was 37.%
	Required:
	a. Calculate the gross profit and cost of goods sold for MBI for fiscal 2019.
	b. Assume that new product is developed and that it will cost $1,625 to manufacture.
	Calculate the selling price that must be set for this new product it is gross profit ratio is to be the same as the average achieved for all products for fiscal 2019.
	c. From a management viewpoint, what you do with this information?