Which of the following is NOT needed to calculate the gross profit margin?
A) Sales
B) Sales Returns and Allowances
C) Cost of Goods Sold
D) Operating Expenses

Question

Quizplus · Accepted Answer

Gross profit margin is calculated using the formula: (Sales - Cost of Goods Sold) / Sales. Operating expenses are not included in this calculation; they are considered later when calculating operating profit margin.

Which of the Following Is NOT Needed to Calculate the Gross