Question: 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

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 $ 65,000 $ 565,000 $ 325,000 2023 % $ 53,000 Calculate the gross profit ratio and inventory turnover ratio in 2024. Note: Round your final answers to 2 decimal places. $ 500,000 $ 250,000

Selected financial statement data for Schmitzer Incorporated is shown below Calculate the gross profit ratio and inventory turnover ratio in 2024. Note: Round your final answers to 2 decimal places

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