Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Current Attempt in Progress Crane Games reported the following information for a three-year period: 2024 2023 2022 Ending inventory $16,400 $24,600 $27,880 Sales 102,500 104,960
Current Attempt in Progress Crane Games reported the following information for a three-year period: 2024 2023 2022 Ending inventory $16,400 $24,600 $27,880 Sales 102,500 104,960 94,300 Cost of goods sold 41,000 41,984 37,720 Profit 24,600 34,440 32,800 (a) Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2024 and 2023. (Round number of days answers to O decimal places, eg. 52 and other answers to 2 decimal places, eg. 52.75. Use 365 days for calculation.) Inventory turnover Days sales in inventory Gross profit margin 2024 times days 2023 times days
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