Anka Inc. provided the following data for 2016 and 2017: Required (round all calculations to two decimal

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Anka Inc. provided the following data for 2016 and 2017:

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Required
(round all calculations to two decimal places)

a. Calculate the inventory turnover ratio for 2016 and 2017.
_

b. Calculate the gross margin return on inventory investment for 2016 and 2017.

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Managerial Accounting

ISBN: 9781618532350

8th Edition

Authors: Morse Hartgraves

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Question Posted: May 30, 2024 10:05 AM

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Anka Inc. provided the following data for 2016 and 2017: Required (round all calculations to two decimal

Question:

Inventory December 31, 2015. $404,800 December 31, 2016. December 31, 2017 571,200 365,000 Cost of goods sold 2016. 2017.... Gross margin 2016. 2017 $1,284,000 1,448,000 $680,000 820,000

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Managerial Accounting

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