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?