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The following information is available for Sandhill's Activewear Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold (a) Inventory turnover Days in inventory 2025 $554,000 1,950,000 1,677,000 Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2 % Gross profit rate 2024 $564,000 1,772,000 1,373,300 2023 $322,000 1,310,000 935,000 2025 times days % 2024 times days %

The following information is available for Sandhill's Activewear Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold (a) Inventory turnover Days in inventory 2025 $554,000 1,950,000 1,677,000 Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2 % Gross profit rate 2024 $564,000 1,772,000 1,373,300 2023 $322,000 1,310,000 935,000 2025 times days % 2024 times days %

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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The following information is available for Sandhill's Activewear Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold (a) Inventory turnover Days in inventory 2025 $554,000 $564,000 1,950,000 1,772,000 1,677,000 1,373,300 Gross profit rate 2024 Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2025 2023 $322,000 1,310,000 935,000 times days % 2024 times days %
Transcribed Image Text:The following information is available for Sandhill's Activewear Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold (a) Inventory turnover Days in inventory 2025 $554,000 $564,000 1,950,000 1,772,000 1,677,000 1,373,300 Gross profit rate 2024 Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2025 2023 $322,000 1,310,000 935,000 times days % 2024 times days %
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