Net sales for the period were $45,000 and cost of sales was $28,000. Compute the gross profit percentage for the current year. (Round your answer to 1 decimal place. Omit the "%" sign in your response.) Gross profit percentage.
Added by Shelly B.
Step 1
Step 1:** Calculate the Gross Profit (GP) \[GP = \text{Net Sales} - \text{Cost of Sales}\] \[GP = $45,000 - $28,000\] \[GP = $17,000\] ** Show more…
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