Selected data for Norma 's Store appear below Instructions Compute the following for 2013 (a) Gross profit rate (b) Inventory turnover (c) Receivables turnover 2013 $900,000 700,000 2012 Net sales Cost of goods sold Inventory at end of year Accounts receivable at end of year $520,000 345,000 95,000...

a Gross profit Net Sales Cost of goods sold 900000 700000 200000 Gross pr ...

Selected data for Norma's Store appear below. Instructions Compute the following for 2013: (a) Gross profit rate.

Question:

Selected data for Norma's Store appear below.

2013 $900,000 700,000 2012 Net sales Cost of goods sold Inventory at end of year Accounts receivable at end of year $520

Instructions
Compute the following for 2013:
(a) Gross profit rate.
(b) Inventory turnover.
(c) Receivables turnover.

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Financial reporting, financial statement analysis and valuation a strategic perspective

ISBN: 978-0324789416

7th Edition

Authors: James M Wahlen, Stephen P Baginskl, Mark T Bradshaw

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Question Posted: Jan 05, 2018 10:37 AM

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Selected data for Norma's Store appear below. Instructions Compute the following for 2013: (a) Gross profit rate.

Question:

2013 $900,000 700,000 2012 Net sales Cost of goods sold Inventory at end of year Accounts receivable at end of year $520,000 345,000 95,000 100,000 80,000

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Financial reporting, financial statement analysis and valuation a strategic perspective

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