US Kit Intermediate Accounting, 120 Volume Exercise 8-24 (Part Level Submission) The financial statements of Concord Corporation for fiscal 2018 to fiscal 2020 are as follows On thousands): Fiscal Fiscal 2020 2019 2019 Inventory 55104,500 $319,500 5303,100 Sale 1,351.000 1.335,500 1,268,600 Gross margin 487,000 181,600 455,000 Net income 31,300 49,600 37,300 (a) Your answer is correct Calculate Concord's (1) inventory turnover and (2) average days to sell inventory for each of the two years ending 2020 and 2019. Round try to average days to decimal places eg. 527. 365 days for calculation) Fiscal 2020 Fiscal 2019 (1) Inventory Turnover Ratio 2.77 times per year 2.74 mes per year (2) Average days to sell inventory 139 days 10 day W SOLUTION SHOW ANSWER LINK TO TEXT Attempt of Calculate Concord's gross profit percentage and percentage matkup on cost for each iscal year (Round answers to 2 decimal places 52.753 Fiscal 2020 Fiscal 2019 e $ 99 c. 523.165 days for calculation) Fiscal 2019 (1) Inventory Turnover Ratio (2) Average days to sell inventory 2.77 unes per year 3K 2.74 times per year 13 days shy Study 130 days SHOW SOLUTION SHOW ANSWER (b) Calculate Concord's gross profit percentage and percentage markup on cost for each fiscal year (Round answers to decimal place 2.5) Fiscal 2020 Fiscal 2019 Percentage Gross Profit Percentage Markeup on Cost LINK TO TEXT Attemp here to search O a 99