A Company Has Net Sales of $56,500 and a Cost

question 77

Multiple Choice

A company has net sales of $56,500 and a cost of goods sold of $26,200. The company's gross profit percentage is approximately:

• A)53.6%.
• B)46.4%.
• C)215.6%.
• D)115.6%.

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Definitions:

IF Functions

A logical function in spreadsheets that returns one value if a condition is true and another value if the condition is false.

Logic

The study of reasoning and argumentation, or a systematic method of arriving at a conclusion based on a set of premises.

Chart Tip

A brief explanatory note or data label that appears when a user hovers over or selects an element within a chart.

Legend

A key or explanation of symbols and colors used in charts, maps, or diagrams.