QS 5-16 Gross profit ratio LO6 llaby Company had net sales of $248,000 and cost of goods sold of $114,080. Calculate an the gross profit ratio, assuming the gross profit ratio for the industry is an average of QS 5-17 Markups LO6 Your parents own a grocery store an non-organic bananas and $1.21/kg for organic bananas. You decide to sell the non-organic produce at a markup percentage of 55% and the organic produ price for non-organic and organic bananas. Round your answer to two decimal places. 55% d you need to determine the selling price of fruit. It costs $o g for ce at a markup percentage of 75% Determine the selling