A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year? Numerator Denominator Gross Profit Percentage

A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year? Numerator Denominator Gross Profit Percentage

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

100%

A consumer products company reported a 20 percent increase in sales from
year, the company reported Cost of Goods Sold in the amount of $157,872.
Numerator
Denominator
Gross Profit Percentage
Cost of Goods Sold
Gross Profit
Net Income
Sales
11

A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This
year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year?
Numerator
Denominator
Gross Profit Percentage

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