mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mhedicatio ard M Sign In | Connect ... P math your default browser Set as default mework Saved The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's Companies, Incorporated, two companies in the home improvement retail industry ($ in millions): Tool Station Howard's 1/28/2020 1/29/2019 2/2/2020 2/3/2019 Net sales Cost of goods sold Year-end inventory $ 102,604 68,248 14,448 $ 96,295 63,982 14,249 $ 70,319 46,910 13,093 $ 66,717 44,253 12,158 Required: Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2020. Note: Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number. Gross Profit Ratio Choose Numerator: Choose Denominator: Gross profit Net sales Tool Station Howard's Tool Station Howard's Inventory Turnover Ratio Choose Numerator: Choose Denominator: # Н 11 11 11 M Gross Profit Ratio Gross profit ratio 0 % 0 Inventory Turnover Ratio Inventory turnover ratio Average Days in Inventory < Prev 7 of 8 Next > Q Search hp 0 times Dames a 135 86

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter15: Ratio Analysis (ratioa)

Section: Chapter Questions

Problem 2R: The comparative financial statements of Global Technology are as follows: Open the file RATIOA from...

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Net sales $102,604 $96,295 $70,319 $66,717

Cost of goods sold 68,248 63,982 46,910 44,253

Year-end inventory 14,448 14,249 13,093 12,158

The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's Companies, Incorporated, two companies in the home improvement retail industry (\$ in millions): Required: Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2020. Note: Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to th nearest whole number.

mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mhedicatio
ard
M Sign In | Connect ...
P math
your default browser
Set as default
mework
Saved
The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's
Companies, Incorporated, two companies in the home improvement retail industry ($ in millions):
Tool Station
Howard's
1/28/2020
1/29/2019
2/2/2020
2/3/2019
Net sales
Cost of goods sold
Year-end inventory
$ 102,604
68,248
14,448
$ 96,295
63,982
14,249
$ 70,319
46,910
13,093
$ 66,717
44,253
12,158
Required:
Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal
years ending in 2020.
Note: Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the
nearest whole number.
Gross Profit Ratio
Choose Numerator:
Choose Denominator:
Gross profit
Net sales
Tool Station
Howard's
Tool Station
Howard's
Inventory Turnover Ratio
Choose Numerator:
Choose Denominator:
#
Н
11
11
11
M
Gross Profit Ratio
Gross profit ratio
0 %
0
Inventory Turnover Ratio
Inventory turnover ratio
Average Days in Inventory
< Prev
7 of 8
Next >
Q Search
hp
0 times
Dames
a
135
86

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