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Calculate the inventory turnover

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Question - Calculate inventory turnover, days sales in inventory, and gross profit margin.

 

2021

2020

2019

Ending inventory

$20,000

$30,000

$34,000

Sales

125,000

128,000

115,000

Cost of goods sold

50,000

51,200

46,000

Profit

30,000

42,000

40,000

Required -

a. Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020.

b. Based on this information, does the company's liquidity appear to be improving or deteriorating?

Reference no: EM132886565

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