During the current year, Carter Company reported $500,000 in sales, and purchased merchandise that cost $300,000. The company's beginning inventory and ending inventory was $60,000. Calculate the gross profit ratio.

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The Answer of During the current year, Carter Company reported $500,000 in sales, and purchased merchandise that cost $300,000. The company's beginning inventory and ending inventory was $60,000. Calculate the gross profit ratio.

During the Current Year, Carter Company Reported $500,000 in Sales