Sheridan Company reported the following information for a three-year period: 2021 2020 2019 Ending inventory $19,000...
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Sheridan Company reported the following information for a three-year period: 2021 2020 2019 Ending inventory $19,000 $28,000 $34,000 Sales 139,000 143,000 111.000 Cost of goods sold 59.770 61,490 47.730 Profit 27,000 40,000 42,000 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020, (Round number of days answers to O decimal places, eg. 52. Round other answers to 2 decimal places, eg. 52.75. Use 365 days for calculation.) 2021 2020 times times Inventory turnover Inventory turnover times times Days sales in inventory days days Gross profit margin % % eTextbook and Media Based on this information, does the company's liquidity appear to be improving or deteriorating? The company's liquidity appears to be Sheridan Company reported the following information for a three-year period: 2021 2020 2019 Ending inventory $19,000 $28,000 $34,000 Sales 139,000 143,000 111.000 Cost of goods sold 59.770 61,490 47.730 Profit 27,000 40,000 42,000 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020, (Round number of days answers to O decimal places, eg. 52. Round other answers to 2 decimal places, eg. 52.75. Use 365 days for calculation.) 2021 2020 times times Inventory turnover Inventory turnover times times Days sales in inventory days days Gross profit margin % % eTextbook and Media Based on this information, does the company's liquidity appear to be improving or deteriorating? The company's liquidity appears to be
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Related Book For
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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