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
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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
S 642,000 | S 724,000
$ 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
Transcribed Image Text: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 S 642,000 | S 724,000 $ 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
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