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Compute gross profit percentage and rate of inventory

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Question - Assume 007 Inc. made sales of $891.3 million during 2016. The cost of goods sold for the year totaled $581.2 million. At the end of 2015, 007 Inc. inventories stood at $190.4 million, and the company ended 2016 with an inventory of $232 million. Compute 007's gross profit percentage and rate of inventory turnover for 2016.

Reference no: EM132828078

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