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BUSI 1043 Exam.ver ces Review View Help Open in Desktop App ' ' VA Question 3 (15 marks) Smart-T Incorporated had sales and cost of sales of $1,250,000 and $1,100,000 respectively in 2017. The company had shareholders' equity of $925,000, liabilities of $77,000 and assets of $1,700,000. Induded in Smart-T's assets was inventory valued at $100,000 which was a $50,000 increase from the previous year's holdings Calculate Smart-T's gross profit percentage and inventory turn over for 2017, in State some methods retailers might use to increase the gross margin on sales. Discuss methods companies could use to increase the rate of inventory turnover. Ans. sns 17 English (U.S.) 923 words Ea 5 ofe 5 Page 2 of 11 ype here to search