Question: Singleton Inc. reported the following information for the current year: Required: Compute Singletons (a) Gross profit ratio, (b) Inventory turnover ratio , (c) Average days

Singleton Inc. reported the following information for the current year:
Singleton Inc. reported the following information for the current year: Required: Compute

Required:
Compute Singleton€™s
(a) Gross profit ratio,
(b) Inventory turnover ratio,
(c) Average days to sell inventory.

Net sales Cost of goods sold Gross proft Inventory, 1/1 Inventory,1 $21,250 $155,000 vy 12/3124,850

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