Chapter 6 Exercise Refer to the given data Company Net Sales Net Purchases Gross Profit Erie Lawson Cox Ugino 125,200 139.200 98,400 94,300 Beginning Inventory 21,600 26.300 26,900 11,400 65,100 95.200 65,500 32,100 Ending Inventory 19,400 26.800 32,100 4,900 Cost of Goods Sold 67,300 94.700 60,300 3 8,600 57,900 44,500 38,100 55,700 OX Requirements: Requirement 1 Compute all ratio values to answer the following questions: Which company has the highest, and which company has the lowest, gross profit percentage? Which company has the highest, and which has the lowest, rate of inventory turnover? Answer Company Gross Profit Percentage Inventory Turnover Erie Lawson Cox Ugino Which company has the highest, and which company has the lowest, gross profit percentage? Which company has the highest, and which has the lowest, rate of inventory turnover? Requirement 2 Based on your figures, which company appears to be the most profitable