Roswell Corporation reported the following data:Dividends.................. $ 5,000Purchase returns........ 6,000Sales revenue ............. 440,000Ending inventory....... 45,000Freight in..................... $ 22,000Purchases .................... 206,000Beginning inventory .... 51,000Purchase discounts...... 4,500Roswell’s gross profit percentage isa. 49.2.b. 50.8.c. 56.0.d. 48.2.

Question

Roswell Corporation reported the following data:
Dividends.................. $ 5,000
Purchase returns........ 6,000
Sales revenue ............. 440,000
Ending inventory....... 45,000
Freight in..................... $ 22,000
Purchases .................... 206,000
Beginning inventory .... 51,000
Purchase discounts...... 4,500
Roswell’s gross profit percentage is
a. 49.2.
b. 50.8.
c. 56.0.
d. 48.2.

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