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Mega skateboard supplier had net sales of $2.8 million, its cost of goods sold was $1.6 million, and its net income was $0.9 million. its gross margin ratio equals:

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BlueSky06
The gross margin ratio is also sometimes referred to as the gross profit percentage or the gross profit margin. To solve for its value, we divide the net profit of a certain company or group by its net sales. From the given above,
                    gross profit margin = $0.9 million / $2.8 million = 0.32

Answer:

43%

Explanation:

($2.8-$1.6)/$2.8 X 100 = .43

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