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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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