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Business, 31.12.2019 04:31 brazilmade1

Anthony thomas candies (atc) reported the following financial data for 2016 and 2015: 2016 2015 sales $305,000 $284,000 sales returns and allowances 9,000 6,000 net sales $296,000 $278,000 cost of goods sold: inventory, january 1 43,000 36,000 net purchases 152,000 146,000 goods available for sale 195,000 182,000 inventory, december 31 57,000 43,000 cost of goods sold 138,000 139,000 gross profit $158,000 $139,000 atc's gross profit ratio (rounded) in 2016 is: 53.4%. 50.3%. 51.9%. none of these is correct.

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