Solve the problem. Express answers as a percent rounded to the nearest tenth.
Speedy Cleaning Service had a cost of beginning inventory of $40,000, net sales of $248,000, and gross sales of $465,000. Find the beginning inventory percent of net sales and gross sales percent of net sales.
A. beginning inventory percent of net sales: 16.1%, gross sales percent of net sales: 187.5%
B. beginning inventory percent of net sales: 61.9%, gross sales percent of net sales: 16.1%
C. beginning inventory percent of net sales: 187.5%, gross sales percent of net sales: 16.1%
D. beginning inventory percent of net sales: 16.1%, gross sales percent of net sales: 61.9%
Answer: A
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