If Net Sales are $30,000 and the Cost of Merchandise is $11,400, what is the Gross...

If Net Sales are $30,000 and the Cost of Merchandise is $11,400, what is the Gross Margin %?

Write only the number rounded to two decimal places, do not include the % sign or Bb will mark your answer wrong

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Expert Solution

Gross Margin % = [Net Sales - Cost of goods sold] / Net Sales

Given, Net Sales = $30,000

Cost of Merchandise = $11,400

Gross Margin % = [30,000 - 11,400] / 30,000

=> 18,600 / 30,000

=> 0.62

i.e Gross Margin % = 62.00%

jeff jeffy answered 2 years ago

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