Sunland Company reported the following information for a three-year period:

		2021			2020			2019
Ending inventory		$21,000			$30,000			$35,000
Sales		123,000			127,000			115,000
Cost of goods sold		55,350			57,150			51,750
Profit		25,000			42,000			39,000

Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020. (Round number of days answers to 0 decimal places, e.g. 52. Round other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.)

		2021			2020
Inventory turnover		enter Inventory turnover in times rounded to 2 decimal places	times		enter Inventory turnover in times rounded to 2 decimal places	times
Days sales in inventory		enter a number of days rounded to 0 decimal places	days		enter a number of days rounded to 0 decimal places	days
Gross profit margin		enter percentages rounded to 2 decimal places	%		enter percentages rounded to 2 decimal places	%

Answer rating: 100% (QA)

INVENTORY TURNOVER COST OF SALES AVERAGE INVENTORY AVERAGE INVENTORY B... View the full answer