esscourse.com/platform/mod/quiz/attempt.php?attempt-16857428page-29 ACC211:Sessi

Question

esscourse.com/platform/mod/quiz/attempt.php?attempt-16857428page-29 ACC211:Session B-Principles of Financial Acco My Subscriptions Courses / ACC211 Session B-Principles of Financial Accounting / Chapt QUESTION 30 Not complete Points out of 1 .00 Flag question Gross Profit Percentage Using the data below, compute Dino's gross profit percentage for the month of January. Net Sales Cost of goods sold 5,000 Operating expenses 3,500 Other income Income tax expense ,700 $13,000 Round answer to the nearest whole percentage 0 9% Check

Explanation / Answer

Answer:-Gross profit = Net sales – Cost of goods sold

=$13000-$5000 = $8000

Gross profit % = (Gross profit/Net sales)*100

=($8000/$13000)*100

=62%

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