Question
gross profit margin= (revenue-cost of goods sold)/revenue (revenue in the formula can also be written as net sales) gross profit ratio is the gross profit
gross profit margin= (revenue-cost of goods sold)/revenue
(revenue in the formula can also be written as net sales)
gross profit ratio is the gross profit percentage
| Units sold | 214,000 |
| Net sales | 314,700 |
| COGS | 230,400 |
| Gross profit from sales |
|
| Gross profit ratio |
|
Complete the table above, calculate the gross profit and gross profit ratio.
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Attorneys IRS Audit Technique Guide
Authors: Internal Revenue Service
1st Edition
1304112918, 978-1304112910
