The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the two companies is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales Doardwalk Tatty $ 120,000 480,000 350,000 360,000 2,000,000 500,000 3,000,000 Beach Sweets $ 120,000 480,000 300,000 360,000 2,050,000 500,000 3,000,000 Required 2-1. Compute the gross margin percentage for each company. a-2. Identify the company that appears to be charging the higher prices in relation to its cost. b-1. For each company, compute the inventory turnover ratio and the average days to sell Inventory. b-2. Identify the company that appears to be incurring the higher financing cost. Complete this question by entering your answers in the tabs below. Required Al Required A2 Required B1 Required B2 Compute the gross margin percentage for each company. (Round your answers to 1 decimal place.) Gross Margin Boardwalk Tatty % Beach Sweets % NA Required A2 > Chi The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the two companies Is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO. Doardwalk Taffy Bench Sweets Cash $ 120,000 $ 120,000 Accounts receivable 450,000 480,000 Merchandise inventory 350,000 300,000 Accounts payable 360,000 360,000 Cost of goods sold 2,000,000 2,050,000 Building 500,000 500.000 Sales 3,000,000 1,000,000 Required 3.1. Compute the gross margin percentage for each company a-2. Identify the company that appears to be charging the higher prices in relation to its cost. 6-1. For each company, compute the inventory turnover ratio and the average days to sell Inventory. b-2. Identify the company that appears to be incurring the higher financing cost. Complete this question by entering your answers in the tabs below. Required Al Requied 12 Required B2 Required 12 Identify the company that appears to be charging the higher prices in relation to its cost. Higher prices Penu The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the two companies is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO. Boardwalk Tafty Beach Sweets Cash $ 120,000 $ 120,000 Accounts receivable 480,000 480,000 Merchandise inventory 350,000 300,000 Accounts payable 360,000 360,000 Coat of goods sold 2,000,000 2,050,000 Buslding 500,000 500,000 Sales 2,000,000 3,000,000 Required 3-1. Compute the gross margin percentage for each company. a-2. Identify the company that appears to be charging the higher prices in relation to its cost. -1. For each company, compute the inventory tumover ratio and the average days to sell inventory b-2. Identify the company that appears to be incurring the higher financing cost. Complete this question by entering your answers in the tabs below. Hequired A1 Required A2 Requires : Required 02 For each company, compute the inventory turnover ratio and the average days to sell inventory. (Use 365 days in a year, Round your "inventory Turnover Ratios to 1 decimal place and all other answers to the bearest whole number) Inventory Turnover Ratios Average Days Boardwalk Tally days Beach Sweets days times Raud2 Room The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the two companies is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO. Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building sales Boardwalk Taffy $ 120,000 480,000 350,000 360,000 2,000,000 500,000 3,000,000 Beach Sweets $ 120,000 480,000 300,000 360,000 2,050,000 500,000 3,000,000 Required a-1. Compute the gross margin percentage for each company, a-2. Identify the company that appears to be charging the higher prices in relation to its cost. b-1. For each company, compute the inventory turnover ratio and the average days to sell Inventory b-2. Identify the company that appears to be incurring the higher financing cost. Complete this question by entering your answers in the tabs below. Hequired A1 Required A2 Required B1 Require 82 Identify the company that appears to be incurring the higher financing cost. Higher financing cost
