A company made net sales revenue of $530,000, and cost of goods sold totaled $238,500. Calculate its gross profit percentage
A) 55%
B) 45%
C) 130%
D) 300%
A .Gross profit = Sales revenue - Cost of goods sold = $530,000 - $238,500 = $291,500
Gross profit percentage = Gross profit / Sales revenue = $291,500 / $530,000 = 55%
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