A company has sales revenue 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%.
A) 53.6%.
Explanation: gross profit percentage = gross profit/sales revenue; gross profit = sales revenue - cogs; ex: ($56,500 - $26,200)/$56,500 = 53.6%
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