MC Qu. 78 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its 2018 financial statements: 2018 $424,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale 62,000 330,000 392, 00 Inventory, December 31 Cost of goods sold 101,000 291,000 $133,000 Gross profit Thompson's 2018 gross profit ratio is: (Round your answer to the nearest whole percentage.)