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):

The following information is available for Gildan Activewear Inc., headquartered

Instructions
(a) Calculate the inventory turnover, days in inventory, and gross profit margin for 2012 and 2011.
(b) Based on the ratios calculated in part (a), did Gildan's liquidity and profitability improve or deteriorate in 2012?

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

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

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