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The following data is from Russell Co. Income Statement
Sales $1,600
Cost of Good Sold $950
Other Expenses $400
Net Income $250
What is the company’s Gross Margin Percentage
Expert Answer
| Gross Margin = Sales-Cost of goods sold = 1600-950= | 650 | |||||
| Gross Margin Percentage = Gross margin/Sales = 650/1600= | 40.625% | |||||
