Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020:

	2021				2020
Sales	$	322,000			$	291,000
Sales returns and allowances		8,100				5,500
Net sales	$	313,900			$	285,500
Cost of goods sold:
Inventory, January 1		52,000				34,000
Net purchases		144,000				127,000
Goods available for sale		196,000				161,000
Inventory, December 31		77,000				52,000
Cost of goods sold		119,000				109,000
Gross profit	$	194,900			$	176,500

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

• 62.0%.

• 62.1%.

• 55.3%.

• None of these answer choices are correct.