
Concept Introduction:
Gross Margin:
The gross margin can be defined as the difference between net sale and cost of goods sold. It is calculated by subtracting cost of sales from net sales.
Gross Margin Ratio:
The gross margin ratio can be defined as the ratio calculated by dividing gross margin with sales. It is calculated as under −
To compute:
Gross margin ratio for Apple for each of the fiscal years ended on September 30, 2017 and September 24, 2016
Concept Introduction:
Gross Margin:
The gross margin can be defined as the difference between net sale and cost of goods sold. It is calculated by subtracting cost of sales from net sales.
Gross Margin Ratio:
The gross margin ratio can be defined as the ratio calculated by dividing gross margin with sales. It is calculated as under −
To compute:
Gross margin ratio for Google for each of the fiscal years ended on December 31, 2017 and December 31, 2016
Concept Introduction:
Gross Margin:
The gross margin can be defined as the difference between net sale and cost of goods sold. It is calculated by subtracting cost of sales from net sales.
Which company earns more in gross margin for each dollar of net sales for the current year

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Chapter 19 Solutions
FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
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- General accounting?arrow_forwardNonearrow_forwardThe trial balance of Summit Industries included the following account balances on December 31, 2021: • • Accounts payable: $21,000 Bond payable, due 2031: $60,000 Wages payable: $18,000 . Note payable, due 2022: $30,000 • Note payable, due 2028: $45,000 What amount should be included in the current liability section of Summit's December 31, 2021, balance sheet? a) $69,000 b) $39,000 c) $48,000 d) $65,000arrow_forward
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