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Compute Mountains gross profit percentage

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Reference no: EM132468252

Problem - Mountain Company made sales of $38,542 million during 20X6. Cost of goods sold for the year totaled $16,543 million. At the end of 20X5, Mountain's inventory stood at $1,461 million, and Mountain ended 20X6 with inventory of $2,045 million.

Required - Compute Mountain's gross profit percentage and rate of inventory turnover for 20X6.

Reference no: EM132468252

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