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If gross sales is 116000.00 and cost of goods sold is 38000.00 what is the gross profit percentage?
Wiki User
∙ 14y ago
Sales of $116,000 - Cost of Goods Sold $38,000 = Gross Profit $78,000
32.759%
To get the percentage Divide Cost of Goods Sold / Sales = Gross Profit Percentage
$38,000 / $188,000 = 0.327586206
Round to 0.32759 and convert to a percentage by moving the decimal two places to the right. 32.76%
To check our answer we multiply Sales * Gross Profit % = Gross Profit
$116,000 * 32.759% = $38,000.44 (approx. round to nearest dollar)
Numbers are rounded to nearest dollar, percents are rounded to the nearest hundred thousandths (most companies round to four decimal places, but to get a more accurate amount, I chose to round to five)
Wiki User
∙ 14y ago
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How do you calculate selling price if you know cost and gross profit percentage?
Selling price = Cost of goods sold + Gross profit percentage on sales
What is margin of profit?
Gross profit or gross margin is equal to:Sales less: Costs of Goods SoldIt can be expressed as a numerical value or as a percentage of sales [(Sales-COS)/Sales].
What is the average profit margin for a small company?
When we speak of margin we are referring to the fact that we are comparing the profit as a fraction of net sales (Turnover). It is usually referred to as the gross profit margin and one must not confuse this with gross profit mark-up which is expressing gross profit as a percentage of the cost price of goods sold. Naturally the average is the result that we achieve when we compare the gross profit for one year with the Turnover of the same year and express it as a percentage.
How do you calculate the Gross Profit Margin?
The Gross Profit Margin is an expression of the Gross Profit as a percentage of Revenue. Gross Profit Margin = Gross Profit/Revenue*100 [or] Gross Profit Margin = Revenue - (Cost of Sales)/Revenue*100 Cost of sales=it include all those expenses and income that will occur during manaufacturing and sales of goods and services
What does gross profit include?
* + Net Sales * - Cost of Goods Sold (Expenses directly related to the goods that were sold) * ----------------------------------------------- * = Gross Profit
Cost of goods sold plus gross profit equals?
Cost of goods plus gross profit margin equals to total sales revenue of firm.
Why unrealized profit deducted from finished goods?
Unrealized profit is deducted because it is received but not yet earned means goods are not sold to outside customers and unless goods sold to end user or outside company customers, profit is not actually earned.
What are the primary sources of revenue for multinational consumer goods company?
Profit from goods sold
What is profit seeking organisation?
are the group of people provide goods and services in exchange of money or to get profit
What profit used to produce more goods?
capital
What is a person who sells goods for profit?
Vendor / merchant
How do you calculate gross profit margin using cogs and sales?
Gross Profit = Sales - Cost of goods sold Gross profit margin = gross profit / Sales
