Business, 25.03.2020 20:19 hatl

Thompson TV and Appliance reported the following in its 2021 financial statements:
2021
Sales $ 420,000
Cost of goods sold:
Inventory, January 1 82,000
Net purchases 340,000
Goods available for sale 422,000
Inventory, December 31 86,000
Cost of goods sold 336,000
Gross profit $ 84,000
Thompson's 2021 gross profit ratio is:.
a. 3.91
b. 4.00.
c. 4.88
d. 5.00

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Thompson TV and Appliance reported the following in its 2021 financial statements:
2021