Question & Answer: The following data is from Russell Co. Income Statement…..

The following data is from Russell Co. Income Statement

Sales $1,600

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Question & Answer: The following data is from Russell Co. Income Statement…..
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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%

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