Question: a. What is the markup on COGS? b. Compare this companys markup to a COGS Standard Industrial Classification 'norm' of 70%. What is the result?

a. What is the markup on COGS? b. Compare this companys

a. What is the markup on COGS?

b. Compare this companys markup to a COGS Standard Industrial Classification 'norm' of 70%. What is the result?

c. Explain how the difference in this companys markup and industry markup rates affect profitability, or levels of the GPM?

A B C D E 1 2 3 2 3 st 120000 80000 40000 30000 5 INCOME STATEMENT Sales Cost of goods sold Gross profit Selling & general admin expenses Earnings before taxes Taxes @ 40% Net income 5 6 7 8 9 10 11 10000 4000 6000

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