A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $190,000. This year, the company reported Cost of Goods Sold in the amount of $137,028. What was the gross profit percentage this year?

In the question, we are given that a consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $190,000. This year, the company reported Cost of Goods Sold in the amount of $137,028.

We are asked to find the gross profit percentage this year.

We know that the profit percentage is given as the product of the ratio of the profit to cost and 100.

Now, the profit is given as the difference between the total sales and the total cost.

The total sales this year is 20 percent more than the last year.

The sales last year is given as $190,000.

Thus, the sales this year = $190,000 * 1.20 = $228,000.

The cost this year is given to be $137,028.

Thus, the profit this year = $228,000 - $137,028 = $90,972.

Thus, the gross profit percentage = $90,972/$137,028 * 100% = 66.4%.

Thus, the gross profit percentage this year for the company was 66.4%.

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