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MissTica
3 years ago
5

Mega Skateboard Supplier had net sales of $2.4 million, its cost of goods sold was $1.3 million, and its net income was $.8 mill

ion. Its gross margin ratio equals:
Business
1 answer:
VARVARA [1.3K]3 years ago
8 0

Answer:

45.83%

Explanation:

The Gross Margin Ratio is a profitability ratio . It compares the gross margin of a business to its net revenue.

The formula for calculating gross profit ratio is

​Gross Profit Margin  ration  =  Net Sales− COGS​​

                          Net Sales

COGS is the cost of goods sold.

For Megascape board

Net sales= $2.4 million,

COGS =$1.3 million,

gross profit margin ratio = $2.4 - $1.3

     $2.4

=$1.1/$2.4 x 100

=45.83%

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