If Bridgeport desires a gross margin of 40%, is the company achieving its goal?(Round answer...
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If Bridgeport desires a gross margin of 40%, is the company achieving its goal?(Round answer to 2 decimal places)
Gross Margin % _____ %
Bridgeport is a start-up company that helps busy parents by providing science kits for their children. Its first product is a kit for building a 3-D model of an atom. Raw materials for this 3-D atom model kit include foam balls and strong, yet bendable, wire. On December 31, 2024, Bridgeport reported the following for the Inventory section of its balance sheet. The first few items from the company's income statement are as follows
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If Bridgeport desires a gross margin of 40%, is the company achieving its goal?(Round answer to 2 decimal places)