Question: Can you explain how to solve please Information (2005 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover

Can you explain how to solve please

Information (2005 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. Inventory for CEE in 2005 was __. (See Table 2.1) A) $36, 667 B) $32, 448 C) $27, 500 D) $ 9, 167 Answer: C Topic: Balance Sheet and Activity Analysis

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