Gilbert Ltd generated sales revenues of $1,400,000 in the year 2017.Its cost of sales amounted to $\$ 560,000 .$ Calculate Gilbert's gross profit percentage.(Round your answer to the nearest whole percentage.)

Question

Quizplus · Accepted Answer

Gross Profit Percentage = ((Revenue - Cost of Sales) / Revenue) x 100 
= (($1,400,000 - $1,188,881) / $1,400,000) x 100 
= 15.08%
Round to the nearest whole percentage gives 15%, which is option C.

Gilbert Ltd Generated Sales Revenues of $1,400,000 in the Year $560,000.\$ 560,000 .$560,000.

Gilbert Ltd Generated Sales Revenues of $1,400,000 in the Year $\$ 560,000 .$