Sunland Company reported the following information for a three-year period: Ending inventory Sales Cost of goods sold Profit Inventory turnover 2021 $19,000 140,000 50,400 26,000 Days sales in inventory Gross profit margin 2021 2020 $29,000 148,000 53,280 42,000 The company's liquidity appears to be 2019 $33,000 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020. (Round number of days answers to 0 decimal places, e.g. 52. Round other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.) 114,000 41,040 41,000 times days % 2020 Based on this information, does the company's liquidity appear to be improving or deteriorating? times days ii % ....

Sunland Company reported the following information for a three-year period: Ending inventory Sales Cost of goods sold Profit Inventory turnover 2021 $19,000 140,000 50,400 26,000 Days sales in inventory Gross profit margin 2021 2020 $29,000 148,000 53,280 42,000 The company's liquidity appears to be 2019 $33,000 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020. (Round number of days answers to 0 decimal places, e.g. 52. Round other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.) 114,000 41,040 41,000 times days % 2020 Based on this information, does the company's liquidity appear to be improving or deteriorating? times days ii % ....

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

Sunland Company reported the following information for a three-year period:
Ending inventory
Sales
Cost of goods sold
Profit
Inventory turnover
2021
$19,000
140,000
50,400
26,000
Days sales in inventory
Gross profit margin
2021
2020
$29,000
148,000
53,280
42,000
The company's liquidity appears to be
2019
$33,000
Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020. (Round number of days
answers to 0 decimal places, e.g. 52. Round other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.)
114,000
41,040
41,000
times
days
%
2020
Based on this information, does the company's liquidity appear to be improving or deteriorating?
times
days
ii
%
....

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