Homework Help is Here – Start Your Trial Now!
Business
Accounting
A company had net sales of $780,300 and cost of goods sold of $557,970. Its net income was $23,830. Calculate the company's gross margin ratio.

A company had net sales of $780,300 and cost of goods sold of $557,970. Its net income was $23,830. Calculate the company's gross margin ratio.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
See similar textbooks
icon
Related questions
Question

Provide correct answer general accounting question

A company had net sales of $780,300 and cost of goods sold of $557,970. Its net income was $23,830. Calculate the company's gross margin ratio.
Transcribed Image Text:A company had net sales of $780,300 and cost of goods sold of $557,970. Its net income was $23,830. Calculate the company's gross margin ratio.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer