A company’s net sales are $675,000, its cost of goods sold is $459,000, and its net income is $74,250. Its gross margin ratio equals a. 32%. c. 47%. e. 34%. b. 68%. d. 11%.
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The gross margin is the difference between net sales and the cost of goods sold. Gross Margin = Net Sales - Cost of Goods Sold Gross Margin = $675,000 - $459,000 Gross Margin = $216,000 Show more…
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