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Selected financial statement data for Schmitzer Inc. is shown below: 2021 2020 Balance sheet: Inventories 71,000 59,000 Ratios: Gross profit ratio for 2021 50 %
Selected financial statement data for Schmitzer Inc. is shown below:
| 2021 | 2020 | ||
| Balance sheet: | |||
| Inventories | 71,000 | 59,000 | |
| Ratios: | |||
| Gross profit ratio for 2021 | 50 | % | |
| Inventory turnover ratio for 2021 | 6 | ||
What was the amount of net sales for 2021?
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Accounting An Introduction
Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
