Solution-Determine for fy the inventory turnover ratio

Determine for fy the inventory turnover ratio

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Reference no: EM132622097

The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal)

Item/Account	2017	2016
Account Receivable	$9,800	$9,400
Inventory	30,000	16,000
Net Sales (all credit)	85,000	71,000
Cost of Goods Sold	62,000	52,000
Net Income	7,200	6,900

Question a: Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. the inventory turnover ratio

2. number of days of inventory

3. Gross Profit Margin

4. Profit Margin

Reference no: EM132622097

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Determine for fy the inventory turnover ratio

Reference no: EM132622097

Reference no: EM132622097

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