Solution-Determine the inventory turnover ratio and profit

Determine the inventory turnover ratio and profit margin

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Reference no: EM132554245

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

Required - 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: EM132554245

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Determine the inventory turnover ratio and profit margin

Reference no: EM132554245

Reference no: EM132554245

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