A Gross Profit Margin of 30% Means That

Multiple Choice

A gross profit margin of 30% means that:

A) for each dollar of sales, the company has a cost of goods sold of seventy cents.
B) for each dollar of sales, the company has a gross profit of thirty cents.
C) for each dollar of sales, the company has a cost of goods sold of thirty cents.
D) both A and B are true.