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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
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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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
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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