a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending inventory was P4,050. b. Net profit margin is 11%. The incomplete Statement of Financial Position of Alice's Cupcakes is give below:

a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending inventory was P4,050. b. Net profit margin is 11%. The incomplete Statement of Financial Position of Alice's Cupcakes is give below:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

Show all workings and fill the table.

a. Inventory turnover is 3,50. Beginning inventory was P4,250 and ending
inventory was P4,050.
b. Net profit margin is 11%.
The incomplete Statement of Financial Position of Alice's Cupcakes is given
below:
Net Sales
28,800.00
Cost of goods sold
Selling and admin expenses
Interest expense
Other Expenses
7,320.00
600.00
Income before taxes
5,300.00
Income tax expense
C
Net Income

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