Net sales Cost of goods sold Beginning inventory $ 180,000 124,000 41,000

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 5PEA
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Net sales
Cost of goods sold
$
180,000
124,000
Beginning inventory
Ending inventory
Calculate the gross profit ratio. (Round your answer to 2 decimal places.)
41,000
31,000
Transcribed Image Text:Net sales Cost of goods sold $ 180,000 124,000 Beginning inventory Ending inventory Calculate the gross profit ratio. (Round your answer to 2 decimal places.) 41,000 31,000
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