Martin Company's cost of goods sold is 40% of net sales revenue.This means that for every $1 of net sales revenue,Martin has $0.60 of gross profit.

Name: Martin Company's cost of goods sold is 40% of net sales revenue.This means that for every $1 of net sales revenue,Martin has $0.60 of gross profit.
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Question

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If the cost of goods sold is 40% of net sales revenue, then 60% of net sales revenue remains as gross profit, which is $0.60 for every $1 of net sales revenue.

Martin Company's Cost of Goods Sold Is 40% of Net