0 Required Information The following information apples to the questions displayed below.) The Slumber Store (TSS) is a national wholesaler of beds, mattresses, pillows, and sheets. Key totals from TSS's most recent and forecasted financial statements are presented in the table below. From the income statement Last Year This Year Next Year $615,000 5770,000 Cost of Goods Sold 346,500 405,250 556.300 209,750 213,700 Trom the balance sheet Last Year This Year Next Year Sales Revenge 5560,000 Gross Profit 213,500 Inventories $88.000 5101,908 9179, 825 Required: 1. Use the financial statement totals to compute the company's actual inventory turnover ratio for this year and its forecasted Inventory turnover ratio for next year. Also compute the days-to-sell for this year (actual) and next year forecasted). Is Inventory turnover expected to improve or worsen next year? 2. Use the financial statement totals to compute the company's actual gross profit percentage for this year and its forecasted gross profit percentage for next year is the gross profit percentage expected to improve or worsen next year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the financial statement totals to compute the company's actual inventory turnover ratio for this year and its forecasted Inventory turnover ratio for next year. Also compute the days to sell for this year (actual) and next year (forecasted). Is inventar turnur var mer waren nevtransmetrimat profit percentage for next year. Is the gross profit percentage expected to improve or worsen next year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the financial statement totals to compute the company's actual Inventory turnover ratio for this year and its forecasted inventory turnover ratio for next year. Also compute the days-to-sell for this year (actual) and next year (forecasted). Is Inventory tumover expected to improve or worsen next year? (Round your answers to 2 decimal places). Inventory tumover this year Inventory turnover next year Inventory days-to-sell this year Inventory days-to-sell next year Is inventory turnover expected to improve or worsen next year? F Required 2 > turnover ratio for next year. Also compute the days-to-sell for this year (actuais ana next year (forecasted). as inventory turnover expected to improve or worsen next year? 2. Use the financial statement totals to compute the company's actual gross profit percentage for this year and its forecasted gross profit percentage for next year. Is the gross profit percentage expected to improve or worsen next year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the financial statement totals to compute the company's actual gross profit percentage for this year and its forecasted gross profit percentage for next year. Is the gross profit percentage expected to improve or worsen next year? (Round your answers to 2 decimal places) Gross profit percentage this year % Gross profit percentace next year % is the gross profit pert-eritage expected to improve or worsen next year?
