Reference no: EM132704031
The following information is available for Riverbed Corp for three recent fiscal years.
2022 2021 2020
Inventory $555,000 $564,000 $340,000
Net sales 1,865,000 1,800,000 1,345,000
Cost of goods sold 1,454,700 1,220,400 951,000
Problem 1: Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021.
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: During 2018, Diane's wages are $18,300 and she receives dividend income of $700. Calculate Diane's earned income credit using the EIC table
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Calculate the inventory turnover and gross profit rate
: Riverbed Corp for three recent fiscal years, Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021.
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