Falcon enterprise reported the following financial data Falcon Enterprises reported the followingfinancial data:.Net Sales = $1,050,600. Cost of Goods Sold (COGS) = $573,200.Net Income = $195,400 (Not needed for thiscalculation)Calculate Falcon Enterprises' Gross MarginRatio.

To calculate the Gross Margin Ratio, you can use the following formula: Gross Margin Ratio = (Net…

Answered: Falcon Enterprises reported the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; Cost of Goods Sold: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? Round to the nearest percentage with one decimal place and include "%" (for example, 12.3%).
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Falcon Enterprises reported the following financial data: .Net Sales = $1,050,600 . Cost of Goods Sold (COGS) = $573,200 .Net Income = $195,400 (Not needed for this calculation) Calculate Falcon Enterprises' Gross Margin Ratio.