Anthony Corporation Reported the Following Amounts for the Year $\begin{array}{lr}\text { Net sales } & \$ 296,000 \\\text { Cost of goods sold } & 138,000 \\\text { Average inventory } & 50,000\end{array}$

question 61

Multiple Choice

Anthony Corporation reported the following amounts for the year:
$\begin{array}{lr}\text { Net sales } & \$ 296,000 \\\text { Cost of goods sold } & 138,000 \\\text { Average inventory } & 50,000\end{array}$
Anthony's gross profit ratio is:

• A)53.4%.
• B)51.9%.
• C)50.3%.
• D)46.6%.

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