Question: LAK, Inc. reported the following data for its first year of operations: Net sales $ 6,000 Cost of goods sold 3,900 Operating expenses 1,100 Ending

LAK, Inc. reported the following data for its first year of operations:

Net sales	$	6,000
Cost of goods sold		3,900
Operating expenses		1,100
Ending inventories		1,200

What is LAK's gross profit ratio? LAK, Inc. reported the following data for its first year of operations:

LAK, Inc. reported the following data for its first year of operations: Net sales $ 6,000 Cost of goods sold 3,900 Operating expenses 1,100 Ending inventories 1,200 What is LAK's gross profit ratio? Select one: O a. 35% O b. 18.33% O c. 25% O d. 16.67% O e. 30%

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