Coleman, Inc. provides the following data from its Income Statement for 2018: Net Sales $ 560,000.00 Cost of Goods Sold $ (160,000.00) Gross Profit $ 400,000.00 Calculate the gross profit percentage. (round your answer to two decimal places) A 71.43% B 25.00% C 100.00% D 28.57%
Coleman, Inc. provides the following data from its Income Statement for 2018: Net Sales $ 560,000.00 Cost of Goods Sold $ (160,000.00) Gross Profit $ 400,000.00 Calculate the gross profit percentage. (round your answer to two decimal places) A 71.43% B 25.00% C 100.00% D 28.57%
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 4MC
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Coleman, Inc. provides the following data from its Income Statement for 2018:
Net Sales | $ 560,000.00 |
Cost of Goods Sold | $ (160,000.00) |
Gross Profit | $ 400,000.00 |
Calculate the gross profit percentage. (round your answer to two decimal places)
A | 71.43% |
B | 25.00% |
C | 100.00% |
D | 28.57% |
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