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29 October, 13:13

Mega Skateboard Supplier had net sales of $2.4 million, its cost of goods sold was $1.3 million, and its net income was $.8 million. Its gross margin ratio equals:

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  1. 29 October, 15:58
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    45.83%

    Explanation:

    The Gross Margin Ratio is a profitability ratio. It compares the gross margin of a business to its net revenue.

    The formula for calculating gross profit ratio is

    Gross Profit Margin ration = Net Sales - COGS

    Net Sales

    COGS is the cost of goods sold.

    For Megascape board

    Net sales = $2.4 million,

    COGS = $1.3 million,

    gross profit margin ratio = $2.4 - $1.3

    $2.4

    =$1.1/$2.4 x 100

    =45.83%
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