Goldfire Ltd. provided the following information in 2013-2014: Particulars 31.3.2012 31.3.2013 31.3.2014 Inventory |Cost of goods sold Gross Margin S 202,400 S 190,400 | S 182,500 $ 642,000 | S 724,000 S 340,000 S 410,000 Calculate the inventory turnover ratio for 2013 and 2014. Round off decimal places. a. Inventory turnover ratio for 2013 is 2.88 and for 2014 is 2.46 b. Inventory turnover ratio for 2013 is 3.26 and for 2014 is 3.88 c. Inventory turnover ratio for 2013 is 2.26 and for 2014 is 3.38 d. Inventory turnover ratio for 2013 is 2.36 and for 2014 is 3.88

Goldfire Ltd. provided the following information in 2013-2014: Particulars 31.3.2012 31.3.2013 31.3.2014 Inventory |Cost of goods sold Gross Margin S 202,400 S 190,400 | S 182,500 $ 642,000 | S 724,000 S 340,000 S 410,000 Calculate the inventory turnover ratio for 2013 and 2014. Round off decimal places. a. Inventory turnover ratio for 2013 is 2.88 and for 2014 is 2.46 b. Inventory turnover ratio for 2013 is 3.26 and for 2014 is 3.88 c. Inventory turnover ratio for 2013 is 2.26 and for 2014 is 3.38 d. Inventory turnover ratio for 2013 is 2.36 and for 2014 is 3.88

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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