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Question 2 of 7 < > -126 The following information was taken from the accounting records of Chicoutimi Lte, and Jonquire Lte at December
Question 2 of 7 < > -126 The following information was taken from the accounting records of Chicoutimi Lte, and Jonquire Lte at December 31, 2020. The two companies are competitors Chicoutimi Lte Jonquire Lte Ending inventory, Dec. 31, 2019 $434,000 $157,000 Ending inventory, Dec. 31, 2020 454,000 200,000 Cost of goods sold, 2020 3.241.200 1,303,050 Sales for 2020 6.482.400 2.606.100 Calculate the gross margin, gross margin ratio, and inventory turnover ratio at December 31, 2020, for Chicoutimi Lte ii. Jonquiere Lte (Round inventory turnover ratio to 1 decimal place eg. 10.13 Chicoutimi Lte Jonquire Lte $ $ 25PU
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