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What was the amount of net sales for 2021? The following is data from selected financial statements of Schmitzer Inc.: 2021 2020 Balance sheet: inventories
What was the amount of net sales for 2021?
The following is data from selected financial statements of Schmitzer Inc.:
| 2021 | 2020 | ||
| Balance sheet: | |||
| inventories | 71,000 | 59,000 | |
| Proportions: | |||
| Gross profit ratio for 2021 | 50 | % | |
| Inventory Turnover Rate for 2021 | 6 | ||
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
10th edition
1260481956, 1260310175, 978-1260481952
