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Determine the inventory turnover ratio

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Question - The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017

2016

Accounts Receivable

$9,800

$9,400

Inventory

30,000

16,000

Net Sales (all credit)

85,000

71,000

Cost of Goods Sold

62,000

52,000

Net Income

7,200

6,900

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. The inventory turnover ratio.

2. Number of days of inventory.

3. Gross Profit Margin.

4. Profit Margin.

Reference no: EM132427661

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