Asked by joshy dallas on Jun 10, 2024
Verified
Grosvenor Corporation's most recent income statement appears below: 
The gross margin percentage is closest to:
A) 80.9%
B) 44.7%
C) 376.0%
D) 26.6%
Gross Margin Percentage
A financial metric that represents the gross margin as a percentage of total sales revenue, indicating the efficiency of a company in producing and selling goods.
- Calculate the percentage of gross margin.
Verified Answer
NE
Nicholas EltzrothJun 11, 2024
Final Answer :
B
Explanation :
Gross margin percentage = (Gross profit / Total revenue) * 100%
= (40,000 / 89,600) * 100%
= 44.64%
The closest answer choice is B.
= (40,000 / 89,600) * 100%
= 44.64%
The closest answer choice is B.
Learning Objectives
- Calculate the percentage of gross margin.
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