The financial statements of Trifolium Corporation for fiscal 2015 to fiscal 2017 are as follows (in thousands):

Question:

The of Trifolium for fiscal 2015 to fiscal 2017 are as follows (in thousands):

The financial statements of Trifolium Corporation for fiscal 2015 to

Instructions
(a) Calculate Trifolium's
(1) Inventory turnover and
(2) Average days to sell inventory for each of the two years ending in 2017 and 2016.
(b) Calculate Trifolium's gross profit percentage and percentage markup on cost for each fiscal year.
(c) Is the growth in inventory levels over the last year consistent with the increase in sales? Explain your answer.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...