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17 September, 16:02

Last month, Korey's Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey's gross profit margin.

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  1. 17 September, 16:15
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    The correct answer to this question on edgen is

    C. 76.3%
  2. 17 September, 16:16
    0
    Answer: 76.3%

    Explanation: Gross profit margin is calculated by dividing the gross profit (difference between revenue and cost of goods sold) by revenue (Net sales). It could be expressed as a percentage by multiplying by 100.

    Gross profit margin = (gross profit : net sales) * 100

    Gross profit = $3,320

    Net sales = $4,350

    Gross profit margin = ($3,320:$4,350) * 100

    0.763 * 100 = 76.3%
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Home » Business » Last month, Korey's Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey's gross profit margin.
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