Lemony Company made sales of $38,000 million during 2018. Cost of goods sold for the year totaled $16,340 million. At the end of 2017, Lemonys inventory stood at $1,800 million, and Lemony ended 2018 with inventory of $2,000 million. Compute Lemonys gross profit percentage and rate of inventory turnover for 2018.

Begin by computing Lemonys gross profit percentage for 2018.

S6-11 (similar to) : Ques Lemony Company made sales of $38,000 million during 2018. Cost of goods sold for the year totaled $16,340 million. At the end of 2017, Lemony's inventory stood at $1,800 million, and Lemony ended 2018 with inventory of $2,000 million. Compute Lemony's gross profit percentage and rate of inventory turnover for 2018. Begin by computing Lemony's gross profit percentage for 2018. (Round your answer to the nearest tenth of a percent, X.X%.) Lemony's gross profit percentage for 2018 is %