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This information is available for Bramble Corp. for 2018, 2019, and 2020. 2018 2019 2020 Beginning inventory $ 115,000 $ 314,500 $ 411,500 Ending inventory
This information is available for Bramble Corp. for 2018, 2019, and 2020.
2018 | 2019 | 2020 | ||||
Beginning inventory | $ 115,000 | $ 314,500 | $ 411,500 | |||
Ending inventory | 314,500 | 411,500 | 477,000 | |||
Cost of goods sold | 901,000 | 1,126,000 | 1,301,000 | |||
Sales revenue | 1,208,000 | 1,599,500 | 1,892,500 |
a) Calculate inventory turnover for Bramble Corp. for 2018, 2019, and 2020. (Round answers to 2 decimal places, e.g. 1.52.)
b) Calculate days in inventory for Bramble Corp. for 2018, 2019, and 2020. (Round answers to 1 decimal place, e.g. 1.5. Use 365 days for calculation)
c) Calculate gross profit rate for Bramble Corp. for 2018, 2019, and 2020. (Round answers to 0 decimal places, e.g. 125%)
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