Solution-Calculate the gross profit percentage and

Calculate the gross profit percentage and inventory turnover

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Question 1: Which company has the highest and which company has the lowest gross profit percentage?

Question 2: Which company has the highest and which has the lowest rate of inventory turnover?

Question 3: Calculate the gross profit percentage and inventory turnover for each company. (Round the inventory turnover rates to one decimal place, X.X, and the gross ofit percentage to the nearest tenth percent, X.X%.)

Gross Profit Inventory

Company	Net Sales	Beginning Inventory	Net Purchases	Ending Inventory	Cost of Goods sold	Gross Profit
Fisher	$ 107,000	$ 20,000	$ 66,000	$ 18,000	$ 68,000	$ 39,000
Evans	135,000	28,000	95,000	31,000	92,000	43,000
Cox	98,000	26,000	54,000	20,000	60,000	38,000
Ugino	89,000	7,000	31,000	4,000	34,000	55,000

Reference no: EM132463938

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Calculate the gross profit percentage and inventory turnover

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