Question: Ivanhoe Enterprises reported the following information for 2014: Beginning inventory $34,560 Cost of goods sold 436,320 Ending inventory 48,600 Net income 29,970 Net sales 810,000

Ivanhoe Enterprises reported the following information for 2014:

Beginning inventory $34,560
Cost of goods sold 436,320
Ending inventory 48,600
Net income 29,970
Net sales 810,000
Operating expenses 237,600
Sales revenue 826,200

Compute each of the following ratios: (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.)

(1)

Gross profit rate

enter percentages %

(2)

Inventory turnover

enter ratio in number of times times

(3)

Days in inventory

enter a number of days days

(4)

Profit margin

enter percentages %

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