A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year? Numerator Denominator Gross Profit Percentage

A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year? Numerator Denominator Gross Profit Percentage

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

100%

A consumer products company reported a 20 percent increase in sales from
year, the company reported Cost of Goods Sold in the amount of $157,872.
Numerator
Denominator
Gross Profit Percentage
Cost of Goods Sold
Gross Profit
Net Income
Sales
11

A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This
year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year?
Numerator
Denominator
Gross Profit Percentage

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