The following data is from Russell Co. Income Statement
Sales $1,600
Don't use plagiarized sources. Get Your Custom Essay on
Question & Answer: The following data is from Russell Co. Income Statement…..
GET AN ESSAY WRITTEN FOR YOU FROM AS LOW AS $13/PAGE
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% | |||||