a. Calculate the gross margin percentage for each of State Universitys product lines. b. Compare State Universitys
Question:
a. Calculate the gross margin percentage for each of State University’s product lines.
b. Compare State University’s gross margins to industry averages. Indicate any margins that appear out of line, in relation to the industry.
Transcribed Image Text:
New Course Books Used Course Books Custom Published Books Textbook Rental Sales Course Technology Trade Books Professional Reference Books Total Book Sales Total Non-Book Sales Total Net Sales Sales $ 1,086,800 468,200 212,222 102,323 90,600 68,400 22,330 $2,050,875 $823,578 $2,874,453 Gross Margin Cost of Sales Percentage $ 742,567 318,222 159,293 90,323 80,432 40,356 15,200 $1,446,393 $612,233 $2,058,626 Industry Averages 25.4 32.6 25.6 22.1 11.2 24.3 31.0 26.5 29.7 28.3
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Related Book For
Principles Of Auditing And Other Assurance Services
ISBN: 9781260598087
22nd Edition
Authors: Ray Whittington, Kurt Pany
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