Question: Selected financial statement data for Schmitzer Inc. is shown below: 2013 2012 Balance sheet: Inventories 60,000 48,000 Ratios: Gross profit ratio for 2013 40 %

Selected financial statement data for Schmitzer Inc. is shown below:

2013 2012
Balance sheet:
Inventories 60,000 48,000
Ratios:
Gross profit ratio for 2013 40 %
Inventory turnover ratio for 2013 5

What was the amount of net sales for 2013?

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