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Thompson TV and Appliance reported the following in its 2021 financial statements: Sales Cost of goods sold: 2021 $437,000 Inventory, January 1 80,000 Net
Thompson TV and Appliance reported the following in its 2021 financial statements: Sales Cost of goods sold: 2021 $437,000 Inventory, January 1 80,000 Net purchases 337,000 Goods available for sale 417,000 23 Inventory, December 31 105,000 Cost of goods sold 312,000 Gross profit $125,000 Thompson's 2021 gross profit ratio is: (Round your answer to the nearest whole percentage.) Multiple Choice
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Financial Accounting
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
11th edition
978-0134065830, 134065832, 134127625, 978-0134127620
