Calculate the gross profit ratio and inventory turnover ratio (LO 6) The following information is from the financial statements of Afua 's International Pasta Corporation section Required a Calculate the gross profit ratio for the last 2 years shown b Calculate the inventory turnover ratio for the ...

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Calculate the gross profit ratio and inventory turnover ratio. (LO 6) The following information is from the

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Calculate the gross profit ratio and inventory turnover ratio. (LO 6)

The following information is from the financial statements of Afua's International Pasta Corporation.

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\section*{Required}

a. Calculate the gross profit ratio for the last 2 years shown.

b. Calculate the inventory turnover ratio for the last 2 years shown.

c. What information do these comparisons provide?

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Financial Accounting

ISBN: 9780131492011

1st Edition

Authors: Jane L. Reimers

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Question Posted: Jun 06, 2024 01:00 AM

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Calculate the gross profit ratio and inventory turnover ratio. (LO 6) The following information is from the

Question:

For year ended (amounts in thousands) Sales (domestic) Cost of sales Inventory June 30, 2009 June 30, 2008 $416,049 $429,813 92,488 98,717 17,030 16.341 June 30, 2007 $445,849 110,632 12,659

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Financial Accounting

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