The following financial information is for Alpha Corporation for the fiscal years ending 2017 & 2016 (all
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Question:
The following financial information is for Alpha Corporation for the fiscal years ending 2017 & 2016 (all balances are normal):
Item/Account | 2017 | 2016 |
Accounts Receivable | $9,800 | $9,400 |
Inventory | 30,000 | 16,000 |
Net Sales (all credit) | 85,000 | 71,000 |
Cost of Goods Sold | 62,000 | 52,000 |
Net Income | 7,200 | 6,900 |
Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)
1. the inventory turnover ratio
2. number of days of inventory
3. Gross Profit Margin
4. Profit Margin
Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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