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matrenka [14]
4 years ago
12

​Coleman, Inc. provides the following data from its income statement for​ 2017:Net Sales​$500,000Cost of Goods Sold​(200,000)Gro

ss Profit​$300,000Calculate the gross profit percentage.​ (Round your answer to two decimal​ places.)
Business
1 answer:
Illusion [34]4 years ago
3 0

Answer: 60 %

Explanation: Gross profit refers to the amount of profit that a company has after deducting for making and selling charges.

Gross profit percentage or gross profit ratio refers to the ratio of gross profit and net sales. It is used to evaluate how much gross profit does a company makes from its sales. It is a good measure for evaluating liquidity.

This could be calculated as follows :-

gross\:profit\:ratio=\frac{gross\:profit}{net\:sales}

gross\:profit\:ratio=\frac{300,000}{500,000}

=60 %

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4 years ago
Which of the following is required to be present in an Employment Verification Letter?
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5 0
3 years ago
Wilson company paid 6,700 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The ba
Angelina_Jolie [31]

Answer:

Given that,

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6 0
3 years ago
Advances in technology have reduced the cost of manufacturing MP3 players if demand does not change
Andrews [41]
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5 0
3 years ago
Identify which basic principle of accounting is best described in each item below. (a) Norfolk Southern Corporation reports reve
Stels [109]

Answer:

The answers are,

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Explanation:

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