Coleman,Inc.provides the following data from its income statement for 2017: $$\begin{array} { | l | r | }
\hline \text { Net Sales } & \$ 500,000 \
\hline \text { Cost of Goods Sold } & (200,000 )\
\hline \text { Gross Profit } & \$ 300,000 \
\hline
\end{array}$$ Calculate the gross profit percentage.(Round your answer to two decimal places. )

Question

Coleman,Inc.provides the following data from its income statement for 2017: $$\begin{array} { | l | r | } 
\hline \text { Net Sales } & \$ 500,000 \
\hline \text { Cost of Goods Sold } & (200,000 )\
\hline \text { Gross Profit } & \$ 300,000 \
\hline
\end{array}$$ Calculate the gross profit percentage.(Round your answer to two decimal places. )

Quizplus · Accepted Answer

Gross profit percentage is calculated as (Gross Profit / Net Sales) * 100 = (300,000 / 500,000) * 100 = 60.00%.

Coleman,Inc Calculate the Gross Profit Percentage