If a company had net sales of $56,000 and gross profit of $33,000, the gross profit percentage would be approximately 59%.

Name: If a company had net sales of $56,000 and gross profit of $33,000, the gross profit percentage would be approximately 59%.
Brand: Quizplus
Rating: 4.9 (43 reviews)

Question

Quizplus · Accepted Answer

Gross profit percentage is calculated by dividing gross profit by net sales and multiplying by 100. Therefore, (33000/56000) x 100 = 58.9%, which rounds to approximately 59%.

If a Company Had Net Sales of $56,000 and Gross