Mary Brown Cookies income statement appears as follows (amounts in thousands): Use the following ratio data to

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Mary Brown Cookies’ income statement appears as follows (amounts in thousands):image text in transcribed

Use the following ratio data to complete Mary Brown Cookies’ income statement:

a. Inventory turnover is 4.0 (beginning Merchandise Inventory was $14,960; ending Merchandise Inventory was $14,520).

b. Profit margin ratio is 12%.

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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