MC Qu. 78 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its 2018 financial statements: 2018 Sales $421,000 Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale 66,000 332,000 398,00e 93,000 305,00e $116,000 nventory, December 31 Cost of goods sold Gross profit Thompson's 2018 gross profit ratio is: (Round your answer to the nearest whole percentage.) Multiple Choice 21%. 28%. 31%. None of these answer choices are correct