If the Gross Profit on Sales Is 20 Percent of Net

question 75

Essay

If the gross profit on sales is 20 percent of net sales,then cost of goods sold must be ____________________ percent of net sales.

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Definitions:

U.S.

A country in North America, known for its significant economic, political, and cultural influence globally.

Productive

The ability of an individual, company, or economy to produce goods or services efficiently.

Foreign Economies

Pertains to the economic systems and conditions of countries other than one's own, including their markets, resources, and economic policies.

Unemployment Benefits

Payments made by the government or other authorized bodies to unemployed individuals who meet certain eligibility criteria.