The financial statements of Pina Colada Corporation for fiscal 2021 to fiscal 2023 are as follows (in thousands):InventorySalesGross marginNet incomeFiscal2023$300,7001,352,000490,61731,800Fiscal2022$319,0001,334,500481,12750,100Fiscal2021$303,9001,270,600459,31737,800 Calculate Pina Colada's gross profit percentage and percentage markup on cost for each fiscal year. (Round answers to 2 decimalplaces, e.g. 52.75.)Percentage gross profitPercentage markup on costFiscal 2023%%Fiscal 2022%%

2023 Gross profit= Gross Margin/Sales*100 Gross Margin= $490617 Sales = $1352000 Gross profit %=…

Calculate Pina Colada's gross profit percentage and percentage markup on cost for each fiscal year. (Round answers to 2 decimal places, e.g. 52.75.) Percentage gross profit Percentage markup on cost Fiscal 2023 % % Fiscal 2022 % %

Calculate Pina Colada's gross profit percentage and percentage markup on cost for each fiscal year. (Round answers to 2 decimal places, e.g. 52.75.) Percentage gross profit Percentage markup on cost Fiscal 2023 % % Fiscal 2022 % %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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