Mega Skateboard Supplier had net sales of $2.8 million, its cost of goods sold was $1.8...

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Mega Skateboard Supplier had net sales of $2.8 million, its cost of goods sold was $1.8...

Mega Skateboard Supplier had net sales of $2.8 million, its cost of goods sold was $1.8 million, and its net income was $1.0 million. Its gross margin ratio equals:

rev: 10_13_2017_QC_CS-105444

Multiple Choice

86%.
156%.
36%.
56%.
64%.

business finance

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Answer 1

Answer #1

ANSWER = 36%

Net sales = $2,800,000

COGS = $1,800,000

Net income = $1,000,000

Gross margin ratio = 36%

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Answer 2

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Mega Skateboard Supplier had net sales of $2.8 million, its cost of goods sold was $1.8...

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