ACCT$122-$ Introductory Financial Accounting I

Assignment #$3$

Chapter $5$

Name:

$29$ marks

v$118$

The following reflects the sales and cost of goods sold of Moose Jaw Marketplace Co for the years $2020$ and $2021$:

$2020$ Net sales $=$$$403,982,$ Cost of Goods Sold $=$$$254,711$

$2021$ Net sales $=$$$493,355,$ Cost of Goods Sold $=$$$265,192$

a$)$ Calculate the gross profit from sales for each year. $(2$ marks$)$

b$)$ Calculate the gross profit ratio for each year $-$ show your calculations! $(2$ marks$)$

c$)$ In which year was the gross profit ratio worse for Moose Jaw Marketplace Compan mark$)$