Answers:

None of these answer choices are correct.

27%.

24%.

23%.

Tangarine Corporation's income statement for the year ended December 31, 20x2 included the following information 2021 $429,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 80,000 332,000 412,000 88,000 324,000 $105,000 Calculate Tangarine's 20x2 gross profit ratio. (Round your answer to the nearest whole percentage.)