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plz help The following selected accounts were taken from the financial records of Sonoma Valley Distributors at December 31 , 20X1. All accounts have normal
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The following selected accounts were taken from the financial records of Sonoma Valley Distributors at December 31 , 20X1. All accounts have normal balances. Accounts Receivable at December 31, 20x0, was $54,800. Merchandise inventory at December 31,200, was $58,400. Based on the account balances above. calculate the following: a. The gross profit percentage b. Working capital. c. The current ratio. d. The inventory turnover. e. The accounts receivable turnover. All sales were on credit. Complete this question by entering your answers in the tabs below. The gross profit percentageStep by Step Solution
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