Gilbert Company generated sales revenues of $1,800,000 in 2017. Its cost of goods sold amounted to $990,000. Calculate Gilbert's gross profit percentage. Supporting Materials Cost of goods sold / Group of answer choices 55% 45% 222% 182%

45%

Explanation:

The computation of the gross profit percentage is shown below:

As we know that

Gross profit percentage = Gross profit ÷ Sale revenue × 100

where,

Gross profit is

= Sales revenue - the cost of goods sold

= $1,800,000 - $990,000

= $810,000

And, the sales revenue is $1,800,000

So, the gross profit percentage is

= $810,000 ÷ $1,800,000

= 45%

Hence, the gross profit percentage is 45%

answer; bootstrapping is your answer;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know