Answer:
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Step-by-step explanation:
DEFINATION- Gross profit margin is a profitability ratio that measures how much of every dollar of revenues is left over after paying cost of goods sold.
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FORMULA- Gross profit margin is calculated by subtracting cost of goods sold (COGS) from total revenue and dividing that number by total revenue.
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THE IMAGE BELOW IS THE MATHEMATICAL REPRESENTATION IN CALCULATION OF THE STATED FORMULA
