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The following are sales, cost of sales, and inventory data for a company, a wholesale distributor of car accessories. Dollar amounts are in millions. (10
The following are sales, cost of sales, and inventory data for a company, a wholesale distributor of car accessories. Dollar amounts are in millions. (10 points)
| 2015 | 2014 | 2013 | 2012 |
Sales | 125 | 120 | 112 | 100 |
Cost of sales | 110 | 95 | 90 | 80 |
Beginning inventory | 16 | 15 | 13 | 11 |
Ending inventory | 14 | 13 | 12 | 10 |
.
Required
For each year, calculate the following ratios (1) Gross margin as a percentage of sales and (2) Inventory turnover
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