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good day john,
In pass paper sept 2016 q 31 how is the gross profit margin for household goods calculated to arrived at 40% for 31 august 20×6 & 30% for 31 august 20×5
For household goods, in 20X6, sales are 38,990, cost of sales is 23,394, therefore the profit is 15596.
Therefore the gross profit margin = 15596 / 38990 = 40%It is the same workings for 20X5.
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