Cameron's Clothing Corner had sales of $620,000 and the cost of goods sold of $215,400. What is the gross profit margin?

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...
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What is the gross profit margin?

Cameron's Clothing Corner had
sales of $620,000 and the cost of
goods sold of $215,400.
What is the gross profit margin?
Transcribed Image Text:Cameron's Clothing Corner had sales of $620,000 and the cost of goods sold of $215,400. What is the gross profit margin?
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