E9-11B (Gross Profit Method) Each of the following gross profit percentages is expressed in terms of sales.

E9-11B (Gross Profit Method) Each of the following gross profit percentages is expressed in terms of sales.

1. 25%. 3. 50%.

2. 20%. 4. 331⁄3%.

Instructions

Indicate the gross profit percentage in terms of cost for each of the above.