Calculation A company has total sales of$500,000 and a cost of goodssold (COGS) of $300,000.What is the company's grossprofit margin? a) 20% b) 30%c) 40% d) 60%

To calculate the company's gross profit margin, use the following formula:Gross Profit Margin=Total…

Answered: A company has total sales of $500,000…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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A company has total sales of $500,000 and a cost of goods sold (COGS) of $300,000. What is the company's gross profit margin? a) 20% b) 30% c) 40% d) 60%