The Company's Gross Profit Ratio Is 40

question 46

Multiple Choice

The company's gross profit ratio is 40%. With beginning inventory of $64,000, additional purchases of $27,000 and net sales for the quarter of $102,000, the controller estimated ending inventory values at:

• A)$40,800.
• B)$61,200.
• C)$29,800.
• D)$27,000.

---

Definitions:

Economic Hardship

A situation where an individual or community suffers from a decline in financial stability or income, potentially leading to poverty or deficiency in meeting basic needs.

Corporate Campaigns

Coordinated efforts by labor unions or activist groups to pressure a corporation into meeting certain demands, often involving public relations, legal challenges, and direct action.

Offensive Lockouts

A strategy used by employers to pressure a union by temporarily closing the workplace to prevent employees from working.

Public Safety

The welfare and protection of the general public, usually expressed through services provided by government agencies like police, fire departments, and emergency medical services.