Question

Last year, Sally had a gross profit margin of 68% in her hair salon. Her gross profit was $32,508.63. How much did Sally make in net sales last year?
a.
$16,398.06
b.
$22,105.87
c.
$35,610.25
d.
$47,806.81


Please select the best answer from the choices provided

A
B
C
D
Mark this and return

Answer 1

D

Net sales = gross profit ÷ gross profit margin = 32,508.63 ÷ 0.68 = 47,806.81, so answer is $47,806.81 (choice D).