Real World Financials The table below contains selected information from recent financial statements of Green and White, two companies in the home improvement retail industry ($ in millions): Net sales Cost of goods sold Year-end inventory Green White Green White Green 1/28/2018 1/29/2017 $101,904 $95,595 67,548 63,282 13,748 13,549 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 2018. (Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number.) Choose Numerator: Gross profit Choose Numerator: White 1 2/2/2018 2/3/2017 $69,619 46,210 12,393 1 $66,017 43,553 11,458 Gross Profit Ratio Choose Denominator: Net sales Inventory Turnover Ratio 1 1 1 7 Choose Denominator: Average Days in inventory = = = . M W Gross Profit Ratio: Gross profit ratio Inventory Turnover Ratio Inventory turnover ratio 0% 0% 0 times 0 times

Real World Financials The table below contains selected information from recent financial statements of Green and White, two companies in the home improvement retail industry ($ in millions): Net sales Cost of goods sold Year-end inventory Green White Green White Green 1/28/2018 1/29/2017 $101,904 $95,595 67,548 63,282 13,748 13,549 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 2018. (Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number.) Choose Numerator: Gross profit Choose Numerator: White 1 2/2/2018 2/3/2017 $69,619 46,210 12,393 1 $66,017 43,553 11,458 Gross Profit Ratio Choose Denominator: Net sales Inventory Turnover Ratio 1 1 1 7 Choose Denominator: Average Days in inventory = = = . M W Gross Profit Ratio: Gross profit ratio Inventory Turnover Ratio Inventory turnover ratio 0% 0% 0 times 0 times

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Description: Please do not give solution in image format thank you Required:Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscalyears ending in 2018. (Use 365 days a year. Round "

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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