Adams Corporation estimates that it lost $152,500 in inventory from a recent flood. The following information is available from the records of the companys periodic inventory system: beginning inventory, $260,000; purchases and net sales from the beginning of the year through the date of the flood, $500,000 and $810,000, respectively. What is the companys gross profit ratio?

Adams Corporation estimates that it lost $152,500 in inventory from a recent flood. The following information is available from the records of the company's periodic inventory system: beginning inventory, $260,000; purchases and net sales from the beginning of the year through the date of the flood, $500,000 and $810,000, respectively. What is the company's gross profit ratio? Gross profit ratio Choose Denominator: Choose Numerator: / = Gross profit ratio Gross profit ratio 0