A company's net sales revenues are $1 000 000. Its cost of sales is $400 000. Which of the following is its gross profit percentage?
A)167%
B)60%
C)40%
D)250%

Name: A company's net sales revenues are $1 000 000. Its cost of sales is $400 000. Which of the following is its gross profit percentage? A)167% B)60% C)40% D)250%
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gross profit percentage = (Net sales revenues - Cost of sales) / Net sales revenues * 100= ($1,000,000 - $400,000) / $1,000,000 * 100= $600,000 / $1,000,000 * 100= 60%

A Company's Net Sales Revenues Are $1 000 000