M20-20 Iventory Ratio Calculations

Anka Inc. Provided the following data for 2016 and 2017:

Module 20 Additional Topics in Product Costing Required Using the direct method, prepare departments a schedule allocating the service department costs to the producing 20. Inventory Ratio Calculations Anka Inc. provided the following data for 2016 and 2017: LO3, 4 December 31, 2016. December 31, 2017 $404,800 ME Cost of goods sold 365,000 2017. 1,448,000 Gross margin $680,000 820,000 2017.... Required round all calculations to two decimal places) b. Calculate the g culate the inventory turnover ratio for 2016 and 2017 LO3, 4 culate the gross margin return on inventory investment for 2016 and 2017 0-21. Inventory Ratio Calculations odnchez LTD, provided the following data for 2016 and 2017: anchez LTTD $352,000 555,000 388,000 MB Inventory December 31, 2015 December 31, 2016 .. December 31, 2017 . 2016. 1,258,000 Cost of goods sold $512,000 574,000 2017. Gross margin 2016