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Compute the gross profit rate for november for crane company

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Reference no: EM132733133

Crane Company reported the following information for November and December 2020.

                                                                November           December

Cost of goods purchased                    $538,000              $ 614,000

Inventory, beginning-of-month              126,000                161,910

Inventory, end-of-month                     161,910                    ????

Sales revenue                                      851,000                  1,000,000

Problem 1: Compute the gross profit rate for November. (Round answer to 0 decimal places, e.g. 15%.)

Reference no: EM132733133

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