Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

************ need help with this gross profit question show calculations thanks *********** Group enterprise is worried about their profits. They want you to look into

************ need help with this gross profit question show calculations thanks ***********

Group enterprise is worried about their profits. They want you to look into their gross profit for year 2019 and 2020

Net sales. $ 308,790. year 2019 $ 29079 year 2020

Cost of goods sold $272,310 year 2019 $ 202663 year 2020

a,calculate the gross profit from sales each year

b.calculate gross profit ratio for each year. provide calculations.

c.Which year was the gross profit ratio good for group enterprise

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel G. Short

3rd Edition

0072458836, 978-0072458831

More Books

Students also viewed these Accounting questions

Question

What is its position?

Answered: 1 week ago

Question

What are the organizations relationship goals on this issue?

Answered: 1 week ago