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3241004551 [841]
3 years ago
5

ABC company had sales of $5,000,000 last year. The company also had interest expense of $50,000, general and administrative expe

nse of $1,500,000 and Cost of Goods Sold of $2,000,000. What was ABC's Gross Margin and Gross Margin %
Business
1 answer:
12345 [234]3 years ago
5 0

Answer:

$3,000,000 and 60%

Explanation:

The computation of the gross margin and the gross margin percentage is shown below:

Gross margin = Net sales - cost of goods sold  

So,

= $5,000,000  - $2,000,000

= $3,000,000

And, the gross margin percentage is

= (Gross margin ÷ Sales) × 100

= ($3,000,000 ÷ $5,000,000) × 100

= 60%

All the other information i.e mentioned is not relevant. Hence, ignored it

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When Carolina is in the grocery store buying milk for her children, she picks up a tube of toothpaste at the same time. The toot
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<h3>What is the Product?</h3><h3></h3>

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