Selected financial statement data for Schmitzer Incorporated is shown below: Balance sheet: Inventories Income statement: Sales...
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Selected financial statement data for Schmitzer Incorporated is shown below: Balance sheet: Inventories Income statement: Sales revenue Cost of goods sold 2024 Gross profit ratio Inventory turnover ratio $ 60,000 2023 $ 48,000 $ 560,000 $ 490,000 $ 320,000 $ 240,000 Calculate the gross profit ratio and inventory turnover ratio in 2024. Note: Round your final answers to 2 decimal places. % Selected financial statement data for Schmitzer Incorporated is shown below: Balance sheet: Inventories Income statement: Sales revenue Cost of goods sold 2024 Gross profit ratio Inventory turnover ratio $ 60,000 2023 $ 48,000 $ 560,000 $ 490,000 $ 320,000 $ 240,000 Calculate the gross profit ratio and inventory turnover ratio in 2024. Note: Round your final answers to 2 decimal places. %
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Part 1 Gross profit ratio Revenue COGS Revenue Sales revenue 560000 ... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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