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The following information is for Barrel and its competitor Crate. Barrel Year...

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Question

Accounting

The following information is for Barrel and its competitor Crate.
Barrel
Year 1
Net
sales
Cost of
sales
Crate
Year 1
$579,750$664,395
Required:
Calculate the dollar amount of gross margin and the gross margin ratio to the nearest percent, for each company for both
years.
Which company had the more favorable ratio for each year?
Which company had the more favorable change in the gross margin ratio over this 2-year period?
Upload an Excel spreadsheet to show work
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