In the context of computing the cost of sales, the common way to do this is to use the percent$-$of$-$sales method, which is a method for expressing each expense item as a percentage of $\_\_\_\_\_\_\_\_.$

In the context of computing the cost of sales, the common way to do this is to use the percent$-$of$-$sales method, which is a method for expressing each expense item as a percentage of $\_\_\_\_\_\_\_\_.$

net sales

gross profit

net income

operating income

cost of sales