Use the following data: Nov. 30, 2011 Nov. 30, 2012 Nov. 30, 2013 Sales $3,500,000 $4,000,000 $4,400,000 COGS $2,100,000 $2,400,000 $2,685,000 Inventory $650,000 $700,000 $600,000 Calculate the Gross Profit Ratio for 2012?

Use the following data: Nov. 30, 2011 Nov. 30, 2012 Nov. 30, 2013 Sales $3,500,000 $4,000,000 $4,400,000 COGS $2,100,000 $2,400,000 $2,685,000 Inventory $650,000 $700,000 $600,000 Calculate the Gross Profit Ratio for 2012?

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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Question

solve this one

Use the following data:
Nov. 30, 2011
Nov. 30, 2012
Nov. 30, 2013
Sales
$3,500,000
$4,000,000
$4,400,000
COGS
$2,100,000
$2,400,000
$2,685,000
Inventory $650,000
$700,000
$600,000
Calculate the Gross Profit Ratio for 2012?

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