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  3. tangarine corporation's income statement for the y

Tangarine Corporation's income statement for the year ended December 31,20x2 included the following information: ...

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Accounting

Tangarine Corporation's income statement for the year ended December 31,20x2 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 20x2 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.
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