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Calculate the gross profit as percentage of sales

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Reference no: EM132487529

ABC store has provided the following financial data.

                                         £

Sales                            120,000

Cost of goods sold            90,000

Total Expense                  15,000

Fixed assets                    15,000

Current assets

Stock                             22,500

Debtors                           2,500

Cash                                7,500 32,500

Current liabilities                7,500

Capitals                            15,000

Required:

Calculate the following ratios

Question (a) Gross profit as percentage of sales

Question (b) Net profit as percentage of sales

Question (c) Current ratio

Question (d) Acid test ratio

Question (e) Stock turnover

Reference no: EM132487529

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