Question: Using the amounts below, calculate the inventory turnover ratio , average days in inventory, and gross profit ratio. Net sales Cost of goods sold Beginning

Using the amounts below, calculate the inventory turnover ratio, average days in inventory, and gross profit ratio.

Net sales Cost of goods sold Beginning inventory Ending inventory $250,000 180,000

Net sales Cost of goods sold Beginning inventory Ending inventory $250,000 180,000 55,000 45,000

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