Raven Industries Reported Net Sales of $296,000, Cost of Goods

question 90

Multiple Choice

Raven Industries reported Net Sales of $296,000, Cost of Goods Sold of $196,600, Operating Expenses of $57,900, and Income Tax Expense of 15,300. Raven Industries' gross profit margin percentage was: (Round your final answer to two decimal places, X.XX%.)

• A)33.58%.
• B)8.85%.
• C)66.42%.
• D)14.02%.