The following information is available for Gildan Activewear Inc., headquartered in Montreal, for three recent fiscal years

Question:

The following information is available for Gildan Activewear Inc., headquartered in Montreal, for three recent fiscal years (in U.S. thousands):

Instructions
(a) Calculate the inventory turnover, days in inventory, and gross profit margin for 2009 and 2010.
(b) Based on the ratios calculated in (a), did Gildan's liquidity and profitability improve or deteriorate in 2010.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118024492

5th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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Question Posted: Jul 18, 2017 01:48 AM

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The following information is available for Gildan Activewear Inc., headquartered in Montreal, for three recent fiscal years

Question:

2010 2009 $ 332,542 301,867 316,172 1,311,463 ,038,319 1,249,711 807,986 2008 Inventory Net sales Cost of sales 947,206 911,242

Step by Step Answer:

a b In 2010 Gildan Activewear has improved its liquidity an...View the full answer

Financial Accounting Tools for Business Decision Making

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