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Question - Inventory Ratio Calculations - Sanchez LTD. Provide the following data for 2016 and 2017:
Inventory
December 31, 2015 $352,000
December 31, 2016 $555,000
December 31, 2017 $388000
Cost of Goods Sold
2016 $1,172,000
2017 $1,258,000
Gross Margin
2016 $512,000
2017 $574,000
Required -
a) Calculate the inventory turnover ratio for 2016 and 2017.
b) Calculate the gross margin return on inventory investment for 2016 and 2017.
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