Selected financial statement data for Schmitzer Incorporated is shown below: Balance sheet: Inventories Income statement: Sales...
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Selected financial statement data for Schmitzer Incorporated is shown below: Balance sheet: Inventories Income statement: Sales revenue Cost of goods sold 2024 Gross profit ratio Inventory turnover ratio $ 76,000 $ 576,000 $ 336,000 2023 $ 64,000 $ 522,000 $ 272,000 Calculate the gross profit ratio and inventory turnover ratio in 2024. Note: Round your final answers to 2 decimal places. Selected financial statement data for Schmitzer Incorporated is shown below: Balance sheet: Inventories Income statement: Sales revenue Cost of goods sold 2024 Gross profit ratio Inventory turnover ratio $ 76,000 $ 576,000 $ 336,000 2023 $ 64,000 $ 522,000 $ 272,000 Calculate the gross profit ratio and inventory turnover ratio in 2024. Note: Round your final answers to 2 decimal places.
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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