A company has sales of $1,500,000,sales discounts of $102,000,sales returns and allowances of $123,000,shipping charges of $15,000,sales commissions of $34,000,net income totaled $263,500,and cost of goods sold of $420,000.What is the gross profit/margin ratio?
A)72.0%
B)53.7%
C)67.1%
D)81.7%
E)17.6%

Question

Quizplus · Accepted Answer

855,000/1,275,000 = 67.1%

A Company Has Sales of $1,500,000,sales Discounts of $102,000,sales Returns