Q5 5.16 Gross profit ratio DL06 Willaby Company had net sales of $248,000 and cost of goods sold or $114.050. Calculate and interpret the gross profit ratio, assuming the gross proftratio for the industry is an average of 53%. QS 5.17 Markups L06 Your parents own a grocery store and you need to determine the selling price of fruit. It costs $0.81/kg for non organic bananas and 51.21/18 for organic ananas. You decide to sell the doganie produce at a markuo percentage of 555 and thiconic produce at a murkup percentage of 75 Determine the selline price for non-organic and organic anaen: Round your answer to two decimal places "Os 527 Sales tax on sales-periodic 1078 On March 17. Dolomite Sales sold merchandise on credit for $5.800 (cost of sales $5,000). Assuming 75 PST and 5GST.record the entry on March 17. Assume a periodic triventory system