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Suzuki Company lost all of its inventory in a fire on December 26, 2015. The accounting records showed the following gross profit data for November

Suzuki Company lost all of its inventory in a fire on December 26, 2015. The accounting records showed the following gross profit data for November and December.

November December (to 12/26)

Net sales $597,424 $690,900

Beginning inventory 31,200 35,800

Purchases 388,200 423,800

Purchase returns and allowances 13,000 14,500

Purchase discounts 8,200 9,200

Freight-in 8,600 9,600

Ending inventory 35,800 ?

Suzuki is fully insured for fire losses but must prepare a report for the insurance company.

Compute the gross profit rate for November.

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