QS 15-24(Algo) Gross profit ratio LO A1 A manufacturer reports sales of $110,000...

50.1K

Verified Solution

Question

Accounting

QS 15-24(Algo) Gross profit ratio LO A1
A manufacturer reports sales of $110,000 and cost of goods sold of $77,000.
Compute its gross profit ratio.
If competitors average a 10% gross profit ratio, does this manufacturer compare favorably or unfavorably to its peers?
Gross profit rati
If competitors average a 10% gross profit ratio, does this manufacturer
compare favorably or unfavorably to its peers?
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students