Vitesse Semiconductor reported the following revenues and cost of goods sold for 2001-2003 (in thousands): Calculate the
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Calculate the gross margin ratio (gross margin/sales) for each year. In 2001 the firm took a charge for obsolete inventory of $46.5 million and, in 2002, another $30.5 million. Explain how these charges affect the gross margin ratio in each of the threeyears.
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