following information is available for Zoes Activewear Inc. for three recent fiscal years. Instructions a. Calculate the
Question:
following information is available for Zoe’s Activewear Inc. for three recent fiscal years.
Instructionsa. Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024.b. Based on the ratios calculated in part (a), did Zoe’s liquidity and profitability improve or deteriorate in 2025?
Transcribed Image Text:
Inventory Net sales Cost of goods sold 2025 $ 553,000 1,948,000 1,552,000 2024 $ 568,000 1,725,000 1,288,000 2023 $ 332,000 1,311,000 947,000
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a b In 2025 Zoes Activewear experienced a deterioration in ...View the full answer
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Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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