Trapper Corporation reported the following data: Freight in Purchases $27,000 Dividends $9,000 202,000 Purchase returns 6,700 Sales revenue 400,000 Ending inventory 47,000 Beginning inventory 57,000 Purchase discounts 4,700 Trapper's gross profit percentage is: A. 61.9%. B. 56.9%. C. 43.1%. D. 42.1%.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Trapper Corporation reported the following data:
Freight in
Purchases
$27,000 Dividends
$9,000
202,000 Purchase returns 6,700
Sales revenue 400,000
Ending inventory 47,000
Beginning inventory 57,000
Purchase discounts 4,700
Trapper's gross profit percentage is:
A. 61.9%.
B. 56.9%.
C. 43.1%.
D. 42.1%.
Transcribed Image Text:Trapper Corporation reported the following data: Freight in Purchases $27,000 Dividends $9,000 202,000 Purchase returns 6,700 Sales revenue 400,000 Ending inventory 47,000 Beginning inventory 57,000 Purchase discounts 4,700 Trapper's gross profit percentage is: A. 61.9%. B. 56.9%. C. 43.1%. D. 42.1%.
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