Ratios: Gross Profit Rate Video Lessons

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Problem: Given the information below for The Great Mall of the Great Plains, what is The Great Mall's Gross Profit Percentage? Net Sales                  $300,000 Cost of Goods Sold    $170,000 Net Income                $60,000   a. 20% b. 23.3% c. 43.3% d. 56.7%

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Problem Details

Given the information below for The Great Mall of the Great Plains, what is The Great Mall's Gross Profit Percentage?

Net Sales                  $300,000

Cost of Goods Sold    $170,000

Net Income                $60,000

a. 20%

b. 23.3%

c. 43.3%

d. 56.7%

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