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Calculate the gross margin ratio

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Question - Vitesse Semiconductor reported the following revenues and cost of goods sold for 2001-2003 (in thousands):

 

2003

2002

2001

Revenues

$156,371

$151,738

$383,905

Cost of revenues

73,163

110,155

201,536

Calculate the gross margin ratio (gross margin/sales) for each year. In 2001 the firm took a charge for obsolete inventory of $46.5 million and, in 2002, another $30.5 million. Explain how these charges affect the gross margin ratio in each of the three years.

Reference no: EM132568787

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