An analyst does research about gross profit margin and gathers the following information about a company in 2012:
·Average inventory is $2000
·Ending inventory of the year is $2500
·Total revenue is $20000
·Inventory tumover ratio is 5.5
·Tax rate is 40%
The gross profit margin for the company is closest to:
A. 27%
B. 31%
C. 45%
