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Which situation has the highest gross profit ratio

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Question - Calculate net sales, gross profit, and gross profit ratio for each of the following situations. Round the gross profit ratio figure to the nearest whole percent.

 

a

b

c

d

Sales

$170,000

$450,000

$225,000

$330,000

Sales discounts

5,000

3,000

11,000

2,000

Sales returns and allowances

1,100

2,100

4,000

11,500

Cost of goods sold

133,000

301,000

110,000

220,000

Required -

a. Which situation has the highest net sales?

b. Which situation has the highest gross profit ratio?

Reference no: EM133061531

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