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Question - Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020.
Wildhorse Co. reported the following information for a three-year period:
2021
2020
2019
Ending inventory
$22,000
$29,000
$34,000
Sales
134,000
137,000
113,000
Cost of goods sold
65,660
67,130
55,370
Profit
32,000
43,000
41,000
Variable expenses are $9 per game and fixed expenses total $172,000 annually. Find the contribution margin ratio
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