Question
Wawa Food Markets is a convenience store chain located primarily in the Northeast. The company sells gas, candy bars, drinks, and other grocery-related items. St.
| Wawa Food Markets is a convenience store chain located primarily in the Northeast. The company sells gas, candy bars, drinks, and other grocery-related items. St. Jude Medical Incorporated sells medical devices related to cardiovascular needs. Suppose a local Wawa Food Market and St. Jude sales office report the following amounts in the same year (company names are disguised): |
| Company 1 | Company 2 | ||||
| Net sales | $ | 313,000 | $ | 313,000 | |
| Cost of goods sold | 66,000 | 234,000 | |||
| Gross profit | $ | 247,000 | $ | 79,000 | |
| Average inventory | $ | 30,000 | $ | 24,000 | |
23. Award:0 out of 10.00 points
Show correct answer| Required: | |
| 1. | For Company 1 and Company 2, calculate the inventory turnover ratio.(Round your answers to 2 decimal places.) |
| Inventory turnover ratio | |
| Company 1 | n/r |
| Company 2 | n/r |
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New Venture Creation A Framework For Entrepreneurial Start-ups
Authors: Paul Burns
2nd Edition
1352000504, 978-1352000504
