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Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017: 2018 $314,000 7,900 $306, 100 2017 $296,000 5, 100 $290,900 Sales Sales
Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017: 2018 $314,000 7,900 $306, 100 2017 $296,000 5, 100 $290,900 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 52,000 141,000 193,000 63,000 130,000 $176, 100 27,000 130,000 157,000 52,000 105,000 $185,900 ATC's gross profit ratio (rounded) in 2018 is: (Round your answer to one decimal place e.g., 0.123 as 12.3%.)
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