The following information is available for Pronghorn Corp for the past three fiscal years 2022 2021 2020 Inventory 560 000 $ 588 000 $ 348 000 $ net sales 1 960 000 1 800 000 1 355 000 cost of goods sold 1 607 200 1 357 200 948 000 Calculate Inventory turnover, Days spent in inventory, and Gross pr...

To calculate the inventory turnover ratio we divide the cost of goods sold by the average inventory ...

The following information is available for Pronghorn Corp for the past three fiscal years. 2022 2021 2020

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The following information is available for Pronghorn Corp for the past three fiscal years.

	2022	2021	2020
Inventory	560.000 $	588.000 $	348.000 $
net sales	1.960.000	1.800.000	1.355.000
cost of goods sold	1.607.200	1.357.200	948.000

Calculate
Inventory turnover,

Days spent in inventory, and

Gross profit ratio for 2022 and 2021 .

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Survey Of Accounting

ISBN: 9781119594536

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Authors: Paul D. Kimmel, Jerry J. Weygandt

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Posted Date: Apr 11, 2023 12:24 AM

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The following information is available for Pronghorn Corp for the past three fiscal years. 2022 2021 2020

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