We have the following informion for Noble Fir Corp. for last year: variable Value Sales $700,000...

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We have the following informion for Noble Fir Corp. for last year: variable Value Sales $700,000 Gross profit margin 0.69 Operating profit margin 0.53 Net profit margin 0.265 Total asset turnover 0.4 Equity multiplier 1.3 Note that gross profit margin equals (Sales - COGS)/ Sales and operating profit margin equals EBIT / Sales. Part 1 What is gross profit? Part 2 What is the costs of goods sold (COGS)? We have the following informion for Noble Fir Corp. for last year: variable Value Sales $700,000 Gross profit margin 0.69 Operating profit margin 0.53 Net profit margin 0.265 Total asset turnover 0.4 Equity multiplier 1.3 Note that gross profit margin equals (Sales - COGS)/ Sales and operating profit margin equals EBIT / Sales. Part 1 What is gross profit? Part 2 What is the costs of goods sold (COGS)?

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