Thompson TV and Appliance reported the following in its 2021 financial statements:

	2021
Sales	$	433,000
Cost of goods sold:
Inventory, January 1		79,000
Net purchases		336,000
Goods available for sale		415,000
Inventory, December 31		86,000
Cost of goods sold		329,000
Gross profit	$	104,000

Thompson's 2021 gross profit ratio is: (Round your answer to the nearest whole percentage.)

27%

22%

24%

none of the above