Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Get immediate and reliable solutions to your questions from a community of experienced experts on our Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Rudy Company reports gross sales revenue of $5.2 million, net sales revenue of $5 million, and cost of goods sold of $3 million. Rounding to the nearest percent, the company's gross profit ratio would be

Sagot :

Zviko

Answer:

40 %

Explanation:

Gross Profit ratio = Gross Profit / Net Sales x 100

where,

Gross Profit = Net Sales - Cost of Sales

                     = $2 million

thus,

Gross Profit ratio = $2 million/ $5 million x 100

                              = 40 %

The company's gross profit ratio would be 40 %

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.