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:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52ec462d-158e-49e7-be59-474ce58d5305%2Fcb5ee1ac-f343-4ca8-8233-25e04e36ca89%2F9sewtlge_processed.png&w=3840&q=75)
Transcribed Image Text: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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