Question
Bummel and Strand Corp. has a gross profit margin of 30.99 percent, sales of $42,895,000, and inventory of $11,829,000. What is its inventory turnover ratio?
Bummel and Strand Corp. has a gross profit margin of 30.99 percent, sales of $42,895,000, and inventory of $11,829,000. What is its inventory turnover ratio? (Round answer to 2 decimal places, e.g. 15.25.)
| The inventory turnover ratio | times |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Parimutuel Applications In Finance New Markets For New Risks
Authors: Ken Baron, Jeffrey Lange
1st Edition
1403939500, 9781403939500
