Description
The Garden Shop had a cost of goods sold of $108,000, operating expenses of $49,000, and net sales of $272,000. Find the cost of goods sold percent of net sales and operating expenses percent of net sales.
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Explanation & Answer
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cost of goods sold = 108000
Net sales = 272000
cost of goods sold % of net sales = 108400/272000 *100 = 39.70 %
operating expense % of net sales = 49000/272000 *100 = 18.01 %
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