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I am having a real dumb moment this morning, can anyone help
I was doing some basic practise questions and got stuck on a Gross Margin question. I couldnt remember which figures to use to get the Gross Margin figures
the question is as follows
Based on the facts below;
1. What is the Gross Margin value?
2. What is the Gross Margin %?
3. Explain the Gross Margin %
Quantity Unit Cost Unit Sell Price
Buy Prod A 60 11.00 18.00
Sell Prod A 45 11.00 18.00
Buy Prod B 950 14.50 29.00
Sell Prod B 80 14.50 29.00
I have don’t the calculation but I think I have don’t it wrong, any help would be greatly appreciated