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Compute the gross pro?t rate for november

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Suzuki Company lost all of its inventory in a ?re on December 26, 2015. The accounting records showed the following gross pro?t data for

                                                              November and                          December.

Net sales                                  $611,183                                       $695,000
Beginning inventory                    31,400                                                36,400
Purchases                                   394,600                                             420,600
Purchase returns and allowances     13,200                                                 14,800
Purchase discounts                       8,300                                                     9,300
Freight-in                                     9,000                                                      9,900
Ending inventory                             36,400                                                            ?

Suzuki is fully insured for ?re losses but must prepare a report for the insurance company.

Question 1: Compute the gross pro?t rate for November. (Round answer to 1 decimal place, e.g. 25.5%.) The gross pro?t rate for the month of November

Reference no: EM132505168

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