The following financial information is for Alpha Corporation for fiscal years 2017 and 2016 (all balances are

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The following financial information is for Alpha Corporation for fiscal years 2017 and 2016 (all balances are normal):

Item/Account 2017 2016

Receivable $9,800 $9,400

Inventory 25,000 16,000

Net Sales (all loans) 80,000 71,000

Cost of Goods Sold 49,000 52,000

Net Income 7,200 6,900 F

Use this information to determine:

1. Receivable turnover rate

2. Average collection period for accounts receivable

3. Gross Margin

4. Profit Margin

Related Book For answer-question

Intermediate Accounting

ISBN: 978-1119048541

11th Canadian edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

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Posted Date: Jul 17, 2023 05:02 AM

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The following financial information is for Alpha Corporation for fiscal years 2017 and 2016 (all balances are

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To calculate the requested financial ratios well use the provided financial information for Alpha Co... View the full answer

Intermediate Accounting

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