Solution-Determine the inventory turnover ratio

Determine the inventory turnover ratio

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

Item/Account	2017	2016
Accounts 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

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.

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Determine the inventory turnover ratio

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