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Business, 31.12.2019 05:31 andrwisawesome0

Thompson tv and appliance reported the following in its 2016 financial statements: 2016 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 2016 gross profit ratio is:

a. 20%.
b. 25%.
c. 19%.
d. none of these is correct.

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Thompson tv and appliance reported the following in its 2016 financial statements: 2016 sales $420,...
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