(b) Calculate the gross profit margin. (Round answer to 2 decimal places, eg 15.25%) Gross profit margin %

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Presented below is selected information for Wilson Company for the month of March, 2024
Cost of goods sold
Delivery expense
Insurance expense
Salaries expense
(a)
(b)
$229,425 Rent expense
Sales discounts
Sales returns and allowances
Sales
Gross profit margin
7,400
5,900
58,600
28,100
8,500
Calculate the gross profit margin. (Round answer to 2 decimal places, eg. 15.25%)
%
14,500
460,000
Transcribed Image Text:Presented below is selected information for Wilson Company for the month of March, 2024 Cost of goods sold Delivery expense Insurance expense Salaries expense (a) (b) $229,425 Rent expense Sales discounts Sales returns and allowances Sales Gross profit margin 7,400 5,900 58,600 28,100 8,500 Calculate the gross profit margin. (Round answer to 2 decimal places, eg. 15.25%) % 14,500 460,000
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