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Wildhorse Enterprises reported the following information for 2014: Beginning inventory $41,600 Cost of goods sold 525,200 Ending inventory 58,500 Net income 34,125 Net sales
Wildhorse Enterprises reported the following information for 2014: Beginning inventory $41,600 Cost of goods sold 525,200 Ending inventory 58,500 Net income 34,125 Net sales 975,000 Operating expenses 286,000 Sales revenue 994,500 Compute each of the following ratios: (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) (1) Gross profit rate (2) Inventory turnover (3) Days in inventory (4) Profit margin % times days %
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