Tarpley & Underwood
Selected data from the financial statements for Tarpley & Underwood are presented below:
$\begin{array}{ll}
\text { Net sales } & \$ 170,000 \
\text { Cost of goods sold } & 136,000 \
\text { Selling, general, \& administrative expenses } & 63,000 \
\text { Other operating expenses } & 600 \
\text { Income tax expense } & 3,000 \
\text { Beginning inventory } & 13,000 \
\text { Ending inventory } & 11,000 \
\text { Ending retained earnings } & 39,000
\end{array}$
-Refer to the information presented for Tarpley & Underwood.What is the gross profit ratio?

Question

Tarpley & Underwood
Selected data from the financial statements for Tarpley & Underwood are presented below:
 $\begin{array}{ll}
\text { Net sales } & \$ 170,000 \
\text { Cost of goods sold } & 136,000 \
\text { Selling, general, \& administrative expenses } & 63,000 \
\text { Other operating expenses } & 600 \
\text { Income tax expense } & 3,000 \
\text { Beginning inventory } & 13,000 \
\text { Ending inventory } & 11,000 \
\text { Ending retained earnings } & 39,000
\end{array}$ 
-Refer to the information presented for Tarpley & Underwood.What is the gross profit ratio?

Quizplus · Accepted Answer

The Answer of Tarpley & Underwood
Selected data from the financial statements for Tarpley & Underwood are presented below:
 $\begin{array}{ll}
\text { Net sales } & \$ 170,000 \
\text { Cost of goods sold } & 136,000 \
\text { Selling, general, \& administrative expenses } & 63,000 \
\text { Other operating expenses } & 600 \
\text { Income tax expense } & 3,000 \
\text { Beginning inventory } & 13,000 \
\text { Ending inventory } & 11,000 \
\text { Ending retained earnings } & 39,000
\end{array}$ 
-Refer to the information presented for Tarpley & Underwood.What is the gross profit ratio?

Tarpley & Underwood Selected Data from the Financial Statements for Tarpley

Tarpley & Underwood
Selected Data from the Financial Statements for Tarpley