a store has retail sales of 278,960 for the first 6 months. the cost of goods sold during that time was 160000. what will be the gross margin percent?
um no ...find the percentage of what? she gave us this chart
Net sales ? 100%
-cost of goods sold 486,000 51%
= Gross margin ? 49.5%
- operating expenses 225000 ?
= profit/loss ? ?
see the way she taught it it seemed like you always needed to know net sales, but if its not given to me how am I suppose to find it?