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What the gross profit margin was determined to be

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Reference no: EM132954718

The following is an extract from the financial statements of Varume Limited for the year ended 31 October 2020:

2020

R

Revenue 1 200 000

Cost of sales 800 000

Inventories 400 000

Trade receivables 600 000

Problem 1: The gross profit margin for 2020 was determined to be_______

A. 33,3%
B. 50%
C. 69,7%
D. 40%

Reference no: EM132954718

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