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How do the company ratios compare to the industry averages

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Problem - Mark Activewear Inc. made sales of $971.5 million during 2020. Cost of goods sold for the year totalled $663.4 million. At the end of 2019, Mark's inventory stood at $201.8 million, and Mark ended 2020 with inventory of $241 million. Compute Mark's gross profit percentage and rate of inventory turnover for 2020. Assume the industry average is 36% for the gross profit percentage and 3.0 times for the inventory turnover. How do the company's ratios compare to the industry averages? Mark's gross profit percentage for 2020 is %. (Enter your answer as a percentage rounded to one decimal place.)

Reference no: EM132903418

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