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Blossom Enterprises reported the following information for 2014: Beginning inventory $39,680 Cost of goods sold 500,960 Ending inventory 55,800 Net income 30,690 Net sales 930,000

Blossom Enterprises reported the following information for 2014:

Beginning inventory $39,680
Cost of goods sold 500,960
Ending inventory 55,800
Net income 30,690
Net sales 930,000
Operating expenses 272,800
Sales revenue 948,600

Compute each of the following ratios: (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.)

(1)

Gross profit rate

enter percentages %

(2)

Inventory turnover

enter ratio in number of times times

(3)

Days in inventory

enter a number of days days

(4)

Profit margin

enter percentages %

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