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Calculate the inventory turnover ratio

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Question 1 - The records of Everyday Electronics Corporation for a particular period include the following:

Average total assets $760,000

Average total liabilities 485,000

Total revenue 200,500

Total expenses (including income tax) 135,000

Required - Calculate the return on equity ratio?

Question 2 - Cromwell Company began the year with a balance in inventory of $117,000 and ended the year with a balance of $109,000. The net sales for the year were $997,000 with a gross profit on sales of $302,000. Calculate the inventory turnover ratio?

Reference no: EM132493153

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