Ratios for a Retail Store a Compute the following for both years 1 Gross profit percentage 2 Inventory turnover 3 Accounts receivable turnover b Comment on favorable and unfavorable trends 2015 2014 Sales (all on account) Average inventory during the year Average receivables during the year 495,000...

a 1 Gross profit percentage 2014 33 610000 408000 610000 2015 34 750000 495000 750000 2 Inventory tu ...

Ratios for a Retail Store a. Compute the following for both years: 1. Gross profit percentage. 2.

Question:

Ratios for a Retail Store
a. Compute the following for both years:
1. Gross profit percentage.
2. Inventory turnover.
3. turnover.
b. Comment on favorable and unfavorable trends?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...