A Company Reported the Following Information for the Month of November

question 189

Essay

A company reported the following information for the month of November:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 50,475 \\\hline \text { Sales discounts } & 235 \\\hline \text { Sales returns and allowances } & 2,840 \\\hline \text { Cost of goods sold } & 33,975\\\hline \end{array}$
Required: Calculate this company's gross margin ratio.

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Definitions:

Split-phase Motors

A type of single-phase induction motor that uses a secondary start winding or auxiliary winding offset by electrical degrees to create a phase shift, helping to start the motor.

Pulsating Magnetic Field

A magnetic field that varies in amplitude over time in a periodic manner.

Rotating

The action or process of turning around a center or an axis; a fundamental movement in various mechanical and electrical devices.

Fixed

Pertains to an electronic component or value that remains constant and unchanged throughout its operation or use.