Question 6

The following financial information isfor Alpha Corporationarefor the fiscal years ending 2017 & 2016 (all balances are normal):

Cash

$26,000

$16,000

Accounts Receivable

40,000

50,000

Inventory

30,000

22,000

Current Liabilities

76,000

42,000

Net Sales (all credit)

390,000

360,000

Cost of Goods Sold

270,000

250,000

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1.theinventory turnover ratio

2.numberof days of inventory

3. Gross Profit Margin

PLEASE SHOW CALCULATION