Requirement Compute the inventory turnover days' sales in inventory and gross proft percentage for Low's Companies for 2024 Compute the inventory turnover (Round your am to two decal places XXX) The inventory turnover Cost of goods sold Averago merchandise inventory 2 68 times Compute the days' sales in inventory Round interim calculations to two decimal places, XXX and round your final answer to the nearest whole day) 137 days 64% The days' sales inventory 365 days - Inventory turnover Computo the gross prott percentage (Round your answer to the nearest bonth of a percent, XX%) The gross proporcentage Gross pront-Net sales revenue Requirement 2. Compute days' sales in receivables during 2024. Round intermediate calculations to three decimal places. Assume all sales were on account (Round intermediate culations to three decimal places, XXX and round your final answer to the nearest whole day) Days' sales in average receivables- Not credit sales - Average net accounts receivable days Help me solve this Etext pages Get more help Media Clear all Check answer O BE 67F Mostly Homework: C... Part Balance sheets CH Low's to Read the Require Com 2023 Assets 2024 The in 12.900 5 2,100 $ 10.900 Congoli 23 800 Low's Companies Balance Sheet May 31, 2024 and 2023 Liabilities 2023 2024 1.900 Total Current Liabilities $ 22.000 $ 13 800 11.000 Long term Liabilities 5,400 Total Libes 35 000 8.200 Stockholders' Equity 1.700 Common Stock 9,000 20.200 Retained Earnings 34 000 23.000 Total Equity 43.000 51,200 $ Total Liabilities and Equity 78,800 $ Cash Short comments Accounts Recent Merchandise intory O CurrontAssets Town Current Assets The dar 25.000 7,400 7.300 5,000 Trego 9,000 10.400 27.400 Required Round 47.800 31000 All Other Assets 51,200 $ 78,800 $ Days' Total Assets Print Done Companies, a home improvement store chain reported the following summarized figures ck the icon to view the income statement) (Click the icon to view the balance sheets.) *'s has 50,000 common shares x the requirements Income statement nirement 1. Compute the inve ute the inventory turnover ( Low's Companies Income Statement Years Ended May 31, 2024 and 2023 2024 Cost ventory turnover 2023 Bar te the days' sales in invento $ 44,700 Net Sales Revenue s' sales in inventory = 24,900 Cost of Goods Sold 57,200 $ 20,600 200 6,900 the gross profit percentag Interest Expense All Other Expenses 140 7,800 Es profit percentage = $ 29,500 $ 11,860 Net Income nent 2. Compute days' sa termediate calculations to es in average receivables Drint None
