The following Information was taken from the accounting records of Dall Inc. and Magritte Ltd. at...

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The following Information was taken from the accounting records of Dall Inc. and Magritte Ltd. at December 31, 2023 Ending Inventory, December 31, 2022 Ending Inventory, December 31, 2023 Cost of goods sold in 2023 Sales in 2023 Required: + Dall Inc. Magritte Ltd. 352,000 168,000 376,000 194,000 1,909,000 873,000 6,612,000 2,538,000 5) Calculate the gross margin, gross margin ratio, and inventory turnover ratio for each company. (8 marks) b) Which company is moving its Inventory more quickly? (1 mark) c) Which company is better at managing its inventory? (2 marks) ANSWER b) Gross margin Gross margin ratio Inventory turnover Dall Magritte The following Information was taken from the accounting records of Dall Inc. and Magritte Ltd. at December 31, 2023 Ending Inventory, December 31, 2022 Ending Inventory, December 31, 2023 Cost of goods sold in 2023 Sales in 2023 Required: + Dall Inc. Magritte Ltd. 352,000 168,000 376,000 194,000 1,909,000 873,000 6,612,000 2,538,000 5) Calculate the gross margin, gross margin ratio, and inventory turnover ratio for each company. (8 marks) b) Which company is moving its Inventory more quickly? (1 mark) c) Which company is better at managing its inventory? (2 marks) ANSWER b) Gross margin Gross margin ratio Inventory turnover Dall Magritte