Lemony Company made sales of $30,000 million during 2018. Cost of goods sold for the year...
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Lemony Company made sales of $30,000 million during 2018. Cost of goods sold for the year totaled $12,900 million. At the end of 2017, Lemony's inventory stood at $1,400 million, and Lemony ended 2018 with inventory of $1,600 million. Compute Lemony's gross profit percentage and rate of inventory turnover for 2018. Begin by computing Lemony's gross profit percentage for 2018. (Round your answer to the nearest tenth of a percent, X.X%.) Lemony's gross profit percentage for 2018 is 57 %. Now compute Lemony's rate of inventory turnover for 2018. (Round your answer to one decimal place.) Lemony's rate of inventory turnover for 2018 is times. Lemony Company made sales of $30,000 million during 2018. Cost of goods sold for the year totaled $12,900 million. At the end of 2017, Lemony's inventory stood at $1,400 million, and Lemony ended 2018 with inventory of $1,600 million. Compute Lemony's gross profit percentage and rate of inventory turnover for 2018. Begin by computing Lemony's gross profit percentage for 2018. (Round your answer to the nearest tenth of a percent, X.X%.) Lemony's gross profit percentage for 2018 is 57 %. Now compute Lemony's rate of inventory turnover for 2018. (Round your answer to one decimal place.) Lemony's rate of inventory turnover for 2018 is times.
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Cost of goods sold 12900 million Beginning inventory 1400 milli... View the full answer
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