Hayward Co.reported net sales revenues of $23.76 billion and cost of goods sold of $7.2 billion.Its gross profit percentage was:
A)30.3%.
B)69.7%.
C)3.3%.
D)2.3%.

Name: Hayward Co.reported net sales revenues of $23.76 billion and cost of goods sold of $7.2 billion.Its gross profit percentage was: A)30.3%. B)69.7%. C)3.3%. D)2.3%.
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Question

Quizplus · Accepted Answer

Gross profit percentage = [(Net sales − Cost of goods sold)÷ Net sales] × 100
= [($23.76 − $7.2)÷ $23.76] × 100 = 69.7%