Tangarine Corporation's income statement for the year ended December $31,20$x$2$ included the following information:

$2021$

Sales $ $424,000$

Cost of goods sold:

Inventory, January $177,000$

Net purchases $332,000$

Goods available for sale $409,000$

Inventory, December $3188,000$

Cost of goods sold $321,000$

Gross profit $ $103,000$

Calculate Tangarine's $20$x$2$ gross profit ratio. $($Round your answer to the nearest whole percentage.$)$Tangarine Corporation's income statement for the year ended December $31,202$ included the following

information:

Calculate Tangarine's $202$ gross profit ratio. $($Round your answer to the nearest whole percentage.$)$

Multiple Choice

$24\%.$

$27\%.$

$22\%.$

None of these answer cholces are correct.