If a company has sales revenue of $634,000, net sales of $600,000, and cost of good sold of $378,000, the gross profit rate is

Name: If a company has sales revenue of $634,000, net sales of $600,000, and cost of good sold of $378,000, the gross profit rate is
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Question

Quizplus · Accepted Answer

Gross profit is calculated as net sales minus cost of goods sold, which is $600,000 - $378,000 = $222,000. The gross profit rate is then calculated as (Gross Profit / Net Sales) * 100 = ($222,000 / $600,000) * 100 = 37%.

If a Company Has Sales Revenue of $634,000, Net Sales