A company reported the following information for the month of November:
$\begin{array}{|l|r|}
\hline \text { Sales } & \$ 50,475 \
\hline \text { Sales discounts } & 235 \
\hline \text { Sales returns and allowances } & 2,840 \
\hline \text { Cost of goods sold } & 33,975 \
\hline
\end{array}$ Required: Calculate this company's gross margin ratio.

Question

A company reported the following information for the month of November:
 $\begin{array}{|l|r|}
\hline \text { Sales } & \$ 50,475 \
\hline \text { Sales discounts } & 235 \
\hline \text { Sales returns and allowances } & 2,840 \
\hline \text { Cost of goods sold } & 33,975 \
\hline
\end{array}$ Required: Calculate this company's gross margin ratio.

Quizplus · Accepted Answer

The Answer of A company reported the following information for the month of November:
 $\begin{array}{|l|r|}
\hline \text { Sales } & \$ 50,475 \
\hline \text { Sales discounts } & 235 \
\hline \text { Sales returns and allowances } & 2,840 \
\hline \text { Cost of goods sold } & 33,975 \
\hline
\end{array}$ Required: Calculate this company's gross margin ratio.

A Company Reported the Following Information for the Month of November