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Determine the inventory turnover ratio

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Reference no: EM132477578

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

Question 1: 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: EM132477578

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