Net margin is 30% of the gross sales of 150,000. With Cost of Goods Sold amounting to 50,000, what percentage of total sales are expenses other than cost of sales?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...
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Net margin is 30% of the gross sales of 150,000. With Cost of Goods Sold amounting to 50,000, what percentage of total sales are expenses other than cost of sales?

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