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Swank clothiers had sales of 377,000 and cost of goods sold 329,000 what is gross profit mAargin

1 Answer

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We have the following equation:


\text{gross profit = sales - cost of goods}

then, in this case we have:


\text{gross profit = 377000-329000=}48000

now we can calculate the gross profit margin with the following equation:


\text{gross profit margin = }\frac{gross\text{ profit}}{sales}\cdot100

then, we have:


gross\text{ profit margin = }(48000)/(377000)\cdot100=12.73

therefore, the gross profit margin is 12.73%

User Tom Hunt
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