Given the information provided in this illustration, what are the gross profit and gross margin ratio? Revenue $927,000
Sales Returns $25,000
Sales Discounts $15,100
Net Sales $86900
Cost of Goods Sold $168500
Gross Profit ?
Gross Profit Margin % ?
$927,000 $25,000 $15,100 $886,900 $168,500
a.) Gross Profit: $758,500 Gross Margin Ratio: 82%
b.) Gross Profit: $1,055,400 Gross Margin Ratio: 84%
c.) Gross Profit: $718,400 Gross Margin Ratio: 81%
d.) Gross Profit: $846,800 Gross Margin Ratio: 91%