Joan's Co. knows that, nationwide, companies in its industry earn, on average, a percent gross margin...

  

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Joan's Co. knows that, nationwide, companies in its industry earn, on average, a percent gross margin of 38% and a percent net margin of 11%. Joan's Co. forecasts sales of $730,000 next year. If it aims at the same profit ratio as the nationwide average, estimate Joan's cost of goods, gross profit and net profit. Joan's Co. knows that, nationwide, companies in its industry earn, on average, a percent gross margin of 38% and a percent net margin of 11%. Joan's Co. forecasts sales of $730,000 next year. If it aims at the same profit ratio as the nationwide average, estimate Joan's cost of goods, gross profit and net profit.