Reference no: EM133009720
IPSCO Inc., headquartered in Regina, Saskatchewan, produces steel mill and fabricated products for the oil and natural gas, manufacturing, agricultural, and transportation industries in Canada and the U.S.
Selected financial information related to IPSCO's inventories from its December 31 consolidated financial statements (in thousands of U.S. dollars) follows:
2000 1999 1998
Inventories: $225,958 $212,382 $164,557
Sales: 949,263 808,251 719,963
Cost of sales: 764,198 615,827 547,767
Instructions:
Problem (a) Calculate the gross profit margin, inventory turnover, and the days sales in inventory for 2000 and 1999.
Problem (b) Evaluate IPSCO's performance with respect to inventories.
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