Question: Complete the following table. (Input all amounts as positive values. Do not round intermediate calculations. Round Gross profit ratio to 2 decimal places.) Company A

 Complete the following table. (Input all amounts as positive values. Do

Complete the following table. (Input all amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2020 2019 2020 2019 Sales $ 110,000 $ 178,000 $ 90,000 Cost of goods sold: Merchandise inventory (beginning) 8,700 27,300 8,875 6,000 Net cost of merchandise purchases 82,000 26,100 Merchandise inventory (ending) 22,000 8,920 9,875 Cost of goods sold $ 82,300 $ 106,000 Gross profit from sales 39,545 19,775 26,000 54,000 27,000 Operating expenses Profit (loss) Gross profit ratio $ 1,700 $ 18,000 $ 6,275 % % % %

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