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How do the company ratios compare to the industry averages

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Question - Assume Gildan Activewear Inc. made sales of $964.4 million during 2920. Cost of goods _ sold for the year totalled $655.3 million. At the end of 2019, Gildan's inventor},r stood at $200.7 million, and Gildan ended 2020 with inventory of $240 million. Compute Gildan's gross profit percentage and rate of inventory turnover for 2020. Assume the industry average is 35% for the gross profit percentage and 2.9 times for the inventory turnover. How do the company's ratios compare to the industry averages?

Reference no: EM133140540

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