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What are net sales for the year

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Q1. During the current year, Beverly Industries reports an inventory turnover of 10 times, a gross profit margin of 30%, a net profit margin of 4%, and average inventory of $21,000. What are net sales for the year?

A. $300,000.

B. $210,000

C. $70,000.

D. $525,000.

Q2. Which ratio must be calculated using an amount external to a company's financial statements?

A. Times interest earned

B. Current ratio

C. Price-earnings ratio

D. Inventory turnover.

Q3. Which of the following ratios would not be useful to evaluate a company's operating efficiency?

A. Equity turnover

B. Total asset turnover

C. Quick ratio

D. Fixed asset turnover

Reference no: EM133124130

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