Calculate Gross profits of costs of goods sold, and selling price MBI Inc., had sales of $141.6 million for fiscal 2009. The company's gross profit ratio for that year was 31.6%.
1.What is the gross profit?
2.What is the cost of goods sold?
3.What's the selling price?
4.What should be done with the information?
a.Use a target Selling Price but research more
b.Use as the selling price for the new product
c.Use the target cost price but research more
d.Use as the cost price for the new product