Gross Profit on Korean Income Statement Samsung, the huge Korean conglomerate, had the following results in 2002

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Gross Profit on Korean Income Statement Samsung, the huge Korean conglomerate, had the following results in 2002 and 2003 (in billions of Korean won, KRW). 2003 Net sales KRW59,569 2002 KRW46,444 Cost of goods sold 36,952 32,657 Average inventory 3,954 3,611 Compute the gross profit, gross profit percentage, and inventory turnover for Samsung in 2002 and 2003. Comment on the change in gross profit percentage between 2002 and 2003.

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Introduction To Financial Accounting

ISBN: 0131479725

9th Edition

Authors: Charles T Horngren, John A Elliott

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