Dimension Lighting Corp.has the following data at its fiscal year-end: ??
?
$$\begin{array} { l r }
\text { Net Sales } & \$ 27,250 \
\text { Cost of Goods Sold } & 19,600 \
\text { Gross Profit } & \$ 7,650
\end{array}$$ Determine Dimension Lighting's gross profit ration.
?
A)28.1%
B)39.0%
C)71.9%
D)None of these choices

Question

Dimension Lighting Corp.has the following data at its fiscal year-end: ??
?
$$\begin{array} { l r } 
\text { Net Sales } & \$ 27,250 \
\text { Cost of Goods Sold } & 19,600 \
\text { Gross Profit } & \$ 7,650
\end{array}$$ Determine Dimension Lighting's gross profit ration.
?
A)28.1%
B)39.0%
C)71.9%
D)None of these choices

Quizplus · Accepted Answer

Gross profit ratio = Gross profit / Net sales= 7,650 / 27,250= 0.281 or 28.1%

Dimension Lighting Corp Net Sales $27,250 Cost of Goods Sold 19,600 Gross Profit $7,650\begin{array} { l r } \text { Net Sales } & \$ 27,250 \\\text { Cost of Goods Sold } & 19,600 \\\text { Gross Profit } & \$ 7,650\end{array} Net Sales Cost of Goods Sold Gross Profit ​$27,25019,600$7,650​

Dimension Lighting Corp $\begin{array} { l r } \text { Net Sales } & \$ 27,250 \\\text { Cost of Goods Sold } & 19,600 \\\text { Gross Profit } & \$ 7,650\end{array}$