Question: With complete solution please Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and sales remained at their previous levels of

With complete solution please

Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and sales remained at their previous levels of P75,000 and P1,500,000 respectively. The increase in ROI was attributed to a reduction in operating assets brought about by the sale of obsolete inventory at cost (the proceeds from the sale were used to reduce bank loans). Inventory was reduced by a

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