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Calculate sundercock inventory turnover and average days

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Reference no: EM132600744

The financial statements of Sundercock Corporation for fiscal 2018 to fiscal 2020 are as follows (in thousands):

                                                             Fiscal 2020                           Fiscal 2019                      Fiscal 2018

Inventory                                                   $ 391,497                         $ 419,445                      $ 402,207

Sales                                                         1,346,758                         1,331,009                       1,263,955

Gross margin                                                    483,519                           478,401                        451,592

Net income                                                          29,325                         47,451                           35,217

Instructions

Question a. Calculate Sundercock's (1) inventory turnover and (2) average days to sell inventory for each of the two years ended in 2020 and 2019. Round inventory turnover to two decimal places and average days to the nearest day.

Question b. Calculate Sundercock's gross profit percentage and percentage markup on cost for each fiscal year. Round your answers to two decimal places (for example, 52.75%).

Reference no: EM132600744

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