Carol's Coat Closet had sales of $534,000 and the cost of goods sold of $157,300. a) What is the gross profit margin? b) If the average firm in the clothing industry had a gross profit margin of 60 percent, how is the firm doing?

Carol's Coat Closet had sales of $534,000 and the cost of goods sold of $157,300. a) What is the gross profit margin? b) If the average firm in the clothing industry had a gross profit margin of 60 percent, how is the firm doing?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter16: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 8DQ: Suppose a firm with a contribution margin ratio of 0.3 increased its advertising expenses by 10,000...

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General accounting question

Carol's Coat Closet had sales of $534,000 and the cost of
goods sold of $157,300.
a) What is the gross profit margin?
b) If the average firm in the clothing industry had a gross
profit margin of 60 percent, how is the firm doing?

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