Olivera, Inc provides the following data for 2017
Sales Revenue $626,000
Sales Returns and Allowances 21,000
Sales Discounts 6,000
Net Sales Revenue 599,000
Cost of Goods Sold 400,000
The gross profit as a percentage of net sales is ________. (Round your answer to two decimal places.)
A) 31.79%
B) 33.22%
C) 66.78%
D) 34.22%
B .B)
Percent of
2017 Total
Net Sales $599,000 100.00
Cost of Goods Sold 400,000 66.78
Gross Profit $199,000 33.22
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