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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?
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