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Please help solve the following with steps 1- gross profit amount 2- gross profit ratio 3- profit margin 4- inventory turnover ratio 5- receivables turnover
Please help solve the following with steps
1- gross profit amount
2- gross profit ratio
3- profit margin
4- inventory turnover ratio
5- receivables turnover ratio
8- Selected data for Caitlin Store appear below. Assume all sales were on credit. 2018 2019 Net sales $630,000 $520,000 Cost of goods sold 520,000 420,000 Inventory at end of year 64,000 85,000 Accounts receivable at end of year 70,000 50,000 Net income 16,000 13,000 Instructions Compute the following 5 calculations for 2019Step by Step Solution
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