Calculate net sales, gross profit, and gross profit ratio for each of the following situations....
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Accounting
Calculate net sales, gross profit, and gross profit ratio for each of the following situations. Round the gross profit ratio figure to the nearest whole percent.
| a | b | c | d | |
| Sales | $170,000 | $450,000 | $225,000 | $330,000 |
| Sales discounts | 5,000 | 3,000 | 11,000 | 2,000 |
| Sales returns and allowances | 1,100 | 2,100 | 4,000 | 11,500 |
| Cost of goods sold | 133,000 | 301,000 | 110,000 | 220,000 |
a. Which situation has the highest net sales?
b. Which situation has the highest gross profit ratio?
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