Tina Corporation reported the following data: Freight in Sales returns Purchases $24,000 $10,000 245,000 Purchase returns 6,000 Beginning inventory 53,000 Sales revenue 490,000 Purchase discounts 6,200 Ending inventory 47,000 Tina's gross profit percentage is_ %.

Tina Corporation reported the following data: Freight in Sales returns Purchases $24,000 $10,000 245,000 Purchase returns 6,000 Beginning inventory 53,000 Sales revenue 490,000 Purchase discounts 6,200 Ending inventory 47,000 Tina's gross profit percentage is_ %.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Tina's groos profit percentage is

Tina Corporation reported the following data:
Freight in
Sales returns
Purchases
$24,000
$10,000
245,000
Purchase returns 6,000
Beginning inventory 53,000
Sales revenue
490,000
Purchase discounts 6,200
Ending inventory
47,000
Tina's gross profit percentage is_
%.

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