Gross profit accounting assignment help

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Becky Bailey’s Textiles,​ Inc., uses a perpetual inventory system. In​ February,

Becky Bailey’s sold $460,000 of merchandise on account with terms 3​/10, n/30. The cost of the merchandise sold was $200,000.

Using this​ information, calculate the gross profit from the sale and the gross profit ratio. Assume that the customer does not pay within the discount period.

 
 

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=

Gross profit

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Calculate the gross profit ratio. ​(Round to the nearest​ percent.)

 
 

(

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DIVIDED BY

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=

Gross profit ratio

(

) /

=

%

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