Thompson TV and Appliance reported the following in its 2018 financial statements: 15 2018 Sales $421,000 Cost of goods sold: 3.33 Inventory, January 1 Net purchases 69,000 points 329,000 Goods available for sale 398,000 01:42-56 Inventory, December 31 Cost of goods sold 94,000 304,000 $117,000 Gross profit Thompson's 2018 gross profit ratio is: (Round your answer to the nearest whole percentage.) Multiple Cholce 22% None of these answer choices are correct 28% 31% LO