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Required information The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock
Required information The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $1.75 per share at the end of this year. The company paid a common stock dividend of $0.42 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income Ending Balance $ 27,000 $ 48,000 Beginning Balance $ 43,800 $ 41,300 $ 45,100 $ 120,100 $ 48,000 $ 133,100 $ 312,000 $ 263,800 $ 49,500 $ 34,500 $ 82,000 $ 73,800 $ 105,000 $ 105,000 $ 230,000 $ 190,000 $ 312,000 $ 263,800 This Year $ 580,000 $ 336,400 $ 243,600 $ 49,500 $ 3,000 $ 32,550 Foundational 14-10 (Algo) 10. What is the inventory turnover and the average sale period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.) Inventory turnover Average sale period days
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