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Margaret Company reported the following information for the current year Net sales $3,000,000 Purchases $1,957.000 Beginning inventory $245.000 Ending Inventory $115.000 Cost of Goods Sold
Margaret Company reported the following information for the current year Net sales $3,000,000 Purchases $1,957.000 Beginning inventory $245.000 Ending Inventory $115.000 Cost of Goods Sold 65% of sales Industry Averages available are: Inventory Turnover Gross Prott Percentage 5.29 284 How do the inventory turnover and gross profit percentage for Margaret Company compare to the industry averages for the same ratios? (Round inventory turnover to two decimal places. Round gross profit percentage to the nearest percent.) OA Margaret Company has superior gross profit percentage and inventory turnover 3. Margaret Company has interior gross profit percentage and superior inventory turnover OC. Margaret Company has superior gross profit percentage and interior inventory turnover. OD. Margaret Company has inferior gross profit percentage and inventory turnover
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