Chilliton's gross profit was $183,750. Its net sales were $247,800. Its gross profit ratio was:
A) 4.2%.
B) $431,550.
C) 13.4%.
D) 74.1%.
E) $64,050.

Name: Chilliton's gross profit was $183,750. Its net sales were $247,800. Its gross profit ratio was: A) 4.2%. B) $431,550. C) 13.4%. D) 74.1%. E) $64,050.
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Question

Quizplus · Accepted Answer

The gross profit ratio is calculated by dividing the gross profit by net sales and then multiplying by 100 to get a percentage. So, ($183,750 / $247,800) * 100 = 74.1%.

Chilliton's Gross Profit Was $183,750