Suppose you sold 22 items at a retail price of 34.99 each. the cost of each item is 25.01. what is the gross profit precentage per unit?

Question

Steps to break down the answer.

Answer 1

34.99 (selling price) - 25.01 (cost) = 9.98 (gross profit)

 

9.98 / 34.99 = .285 * 100 = 28.5% gross profit percentage per unit 

 

***NOTE:  It doesn't matter whether you have 1 item, 6 items, or 22 items.  The gross profit percentage will be the same.  The only thing the 22 units helps with is to determine total sales, cost, and profit (just multiply everything by 22).