Barbara

Barbara Bailey's Textiles,Inc., uses a perpetual inventory system. InFebruary, Barbara

Barbara Bailey's sold $ 540, 000

$540,000 of merchandise on account with terms 3

3/10, n/30. The cost of the merchandise sold was $ 200, 000

$200,000. Using thisinformation, calculate the gross profit from the sale and the gross profit ratio. Assume that the customer does not pay within the discount period.