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Need help checking my answers Current Attempt in Progress Blossom Electronics has enjoyed tremendous sales growth during the last 10 years. However, even though sales

Need help checking my answers

image text in transcribedimage text in transcribedimage text in transcribed Current Attempt in Progress Blossom Electronics has enjoyed tremendous sales growth during the last 10 years. However, even though sales have steadily increased, the company's CEO, Mary Smith, is concerned about certain aspects of its performance. She has called a meeting with the corporate controller and the vice presidents of finance, operations, sales, and marketing to discuss the company's performance. Mary begins the meeting by making the following observations: We have been forced to take significant write-downs on inventory during each of the last three years because of obsolescence. In addition, inventory storage costs have soared. We rent four additional warehouses to store our increasingly diverse inventory. Five years ago inventory represented only 20% of the value of our total assets. It now exceeds 35%. Yet, even with all of this inventory, "stockouts" (measured by complaints by customers that the desired product is not available) have increased by 40% during the last three years. And worse yet, it seems that we constantly must discount merchandise that we have too much of. Mary asks the group to review the following data and make suggestions as to how the company's performance might be improved. \begin{tabular}{|c|c|c|c|c|} \hline (in millions) & 2027 & 2026 & 2025 & 2024 \\ \hline \multicolumn{5}{|l|}{ Inventory } \\ \hline Raw materials & $204 & $158 & $124 & $102 \\ \hline Work in process & 97 & 62 & 39 & 26 \\ \hline Finished goods & 476 & 386 & 318 & 206 \\ \hline Total inventory & $777 & $606 & $481 & $334 \\ \hline Current assets & $1,512 & $1,138 & $946 & $673 \\ \hline Total assets & $2,220 & $2,018 & $1,926 & $1,672 \\ \hline Current liabilities & $504 & $472 & $420 & $336 \\ \hline Sales revenue & $7,920 & $6,939 & $6,029 & $5,472 \\ \hline Cost of goods sold & $5,316 & $4,379 & $3,556 & $2,846 \\ \hline Net ing & $603 & $790 & $783 & $766 \\ \hline \end{tabular} Compute the current ratio, gross profit rate, profit margin, inventory turnover, and days in inventory for 2025, 2026, and 2027. (Round current ratios to 2 decimal places, eg. 15.21, and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.)

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