1. Sparky's sells auto parts. Provided below is selected financial information from the company's 2012annual report: Sparky's Selected Financial Statement data Fiscal year end 2012 2011 (amounts inthousands of dollars)20122011Net sales$125,410$106,380Cost of Goods Sold--104,090-89,359Gross Profit$21,320$17,021Inventory$31,353$30,850Using Sparky's financial information what is the company's inventory turnover ratio for 2012?a. 0.69|b. 1.00C. 3.35d. 4.03

Inventory turnover ratio is calculated by dividing cost of goods sold for year 2012 by the average…

Answered: 1. Sparky's sells auto parts. Provided…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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