Over a four-year period, Jackie Corporation reported the following series of gross profits. 2018 2019 2020 2021
Net sales $ 51,000 $ 57,000 $ 65,000 $ 81,000
Cost of goods sold 25,700 39,700 21,700 41,700
Gross profit $ 25,300 $ 17,300 $ 43,300 $ 39,300
In 2021, the company performed a comprehensive review of its inventory accounting procedures. Based on this review, company records reveal that ending inventory was understated by $9,690 in 2019. Inventory in all other years is correct.
Required:
Calculate the gross profit ratio for each of the four years based on amounts originally reported. (Round your answers to the nearest whole percent.)

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.