40

2021 $309,000 7,500 $ 301,500 2020 $304,000 5,900 $ 298,100 Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 44,000 149,000 193,000 61,000 132,000 $169,500 27,000 144,000 171,000 44,000 127,000 $171,100 ATC's gross profit ratio (rounded in 2021 is: (Round your answer to one decimal place e.g., 0.123 as 12.3%.) Multiple Choice 56.2% 56.8% 51.8% None of these answer choices are correct