Use the following information to answer the question on page 2 below: Note: all sales are credit
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Question:
Use the following information to answer the question on page 2 below:
Note: all sales are credit sales.
Compute each of the following ratios for 2017 and 2018 and indicate whether each ratio was getting "better" or "worse" from 2017 to 2018 and was "good" or "bad" compared to the Industry Avg in 2018 (round all numbers to 2 digits past the decimal place)
*Assume a 360 day year
**Inventory Turnover can be computed 2 different ways. Use the formula listed in the text and by Connect (the one the text indicates many credit reporting agencies generally use)
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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