Mega skateboard supplier had net sales of $2.8 million, its cost of goods sold was $1.6 million, and its net income was $0.9 million. Its gross margin ratio equals what?

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 29E
Question
100%

General accounting question

Mega skateboard supplier had net sales of $2.8
million, its cost of goods sold was $1.6 million,
and its net income was $0.9 million. Its gross
margin ratio equals what?
Transcribed Image Text:Mega skateboard supplier had net sales of $2.8 million, its cost of goods sold was $1.6 million, and its net income was $0.9 million. Its gross margin ratio equals what?
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