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In 2016, Just Rite Co. incurred cost of goods sold of $37,382 million on gross sales revenue of $43,796 million. Sales returns and allowances
In 2016, Just Rite Co. incurred cost of goods sold of $37,382 million on gross sales revenue of $43,796 million. Sales returns and allowances were $3,737 million. What was Just Rite Co.'s profit margin for 2016? (Assume no other expenses.) A) 6.1% B) 7.2% C) 6.5% D) 6.7%
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