How do I calculate net sales revenue?
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How do I find net sales revenue? Beginning Inventory is 28,000 Ending Inventory is 47,000 Net Purchases is 110,000 and gross profit percent is 60% Thanks
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Answer:
cost of goods sold = 28000+110000-47000=91000 gross profit margin (60%)= gross profit / sales thus, it means cost of goods sold = 40% out of the sales sales revenue 91000/0.4=227500 gross profit=227500-91000=136500 gross profit margin = 136500/227500=60% i m not sure whether my answer is correct, i hope it is helpful
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