Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

( c ) Calculate the inventory turnover ratio and days to sell inventory ratio for the two companies for two years. ( Round inventory turnover

(c)
Calculate the inventory turnover ratio and days to sell inventory ratio for the two companies for two years. (Round inventory
turnover ratio to 1 decimal place, e.g.61.5 and days in inventory to 0 decimal places, e.g.125. Use 365 days for calculation.)
Which of the two companies is moving inventory faster?
is moving inventory faster.Current Attempt in Progress
The following information was taken from the accounting records of Bramble Ltd. and Crane Ltd. at October 31,2024. The two
companies are competitors.
(a)
Calculate the gross margin, gross margin ratio, and inventory turnover ratio at October 31,2024, for:
i. Bramble Ltd.
ii. Crane Ltd.
(Round gross margin ratio and inventory turnover ratio to 1 decimal place, e.g.15.2% or 10.1.)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Paul E. Dascher, Jerry R. Strawser, Robert H. Strawser, Ronald M. Copeland

8th Edition

0873937643, 978-0873937641

More Books

Students also viewed these Accounting questions

Question

=+ (b) When should a contingent liability be recorded?

Answered: 1 week ago