Gross Profit Ratio Dexter Inc. recorded net sales of $158,000 during the period, and its cost of goods sold amounted to $96,380. Compute the company's gross profit ratio. If required, round your answer to the nearest percent. 30 X % Feedback Check My Work The gross profit ratio indicates how well the company controlled its product costs during the year. For example, a 30% gross profit ratio indicates that for every dollar of sales the company has a gross profit of 30 cents