A 30% gross profit percentage means that: A. for each dollar of sales, the company has a cost of goods sold of seventy cents. B. for each dollar of sales, the company has a gross profit of thirty cents. C. for each dollar of sales, the company has a cost of goods sold of thirty cents.

A and B

A. for each dollar of sales, the company has a cost of goods sold of seventy cents. B. for each dollar of sales, the company has a gross profit of thirty cents

Explanation:

The gross profit in finance is regarded as the difference between total sales by particular company and the total cost of the goods sold.

Gross profit percentage can be regarded as the amount earned in term of percentage i.e the margin on a particular goods/service that is left

in revenue afterr total production cost is removed. Some of the total cost are overhead, labor cost.

Therefore, Incase of 30% gross profit percentage it should be noted that, for each dollar of sales, the company has a cost of goods sold of seventy cents and for each dollar of sales, the company has a gross profit of thirty cents.

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