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Spirit Company made sales of $43,700 million during 2014. Cost of goods sold for the year totaled $17,480 million. At the end of 2013?, Spirit?'s inventory stood at $1,800 ?million, and Spirit ended 2014 with inventory of $2,000 million.
Compute Spirit?'s gross profit percentage and rate of inventory turnover for 2014.
Begin by computing Spirit?'s gross profit percentage for 2014. ?(Round your answer to the nearest tenth of a? percent, X.X%.)
Spirits gross profit percentage for 2014 is ______%
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