This is a problem from my accounting II class.
What would the operating expenses as a percentage of sales be if this is all the information I have:
Net Sales 200,000
Cost of goods sold 140,000
gross profit 60,000
net income 14,000
ending merchandise inventory 20,000
accounts receivable 22,000
I think you have to divide something by sales, but what????
Do I just divide Cost of goods sold by sales?
140,000/200,000=70%
Is this correct?
2007-04-24
06:50:47
·
4 answers
·
asked by
Justina
3