Question
Inventory Ratio Calculations Anka, Inc. provided the following data for 2016 and 2017: Inventory December 31, 2015 $ 404,800 December 31, 2016 571,200 December 31,
Inventory Ratio Calculations Anka, Inc. provided the following data for 2016 and 2017:
| Inventory | |
| December 31, 2015 | $ 404,800 |
| December 31, 2016 | 571,200 |
| December 31, 2017 | 365,000 |
| Cost of goods sold | |
| 2016 | $ 1,284,000 |
| 2017 | $ 1,448,000 |
| Gross margin | |
| 2016 | $ 680,000 |
| 2017 | 820,000 |
Round all calculations to two decimal places. (a) Calculate the inventory turnover ratio for 2016 and 2017. 2016 Answer
times 2017 Answer
times (b) Calculate the gross margin return on inventory investment for 2016 and 2017. 2016 Answer
2017 Answer
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Warren Buffett Accounting Book Reading Financial Statements For Value Investing
Authors: Stig Brodersen, Preston Pysh
1st Edition
1939370159, 9781939370150
