The following information is available for Wildhorse's Activewear Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold (a) Inventory turnover Days in inventory 2025 $570,000 $580,000 1,875,000 1.207,500 1,001,000 Gross profitrate 2024 1,750,000 Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal place, eg. 5.2. days in inventory to O decimal places, eg 125 and gross profit rate to 1 decimal place, eg. 5.2%) 2023 $330,000 1.350,000 2025 939,000 times days 2024 times days %
The following information is available for Wildhorse's Activewear Inc. for three recent fiscal years. Inventory Net sales Cost of goods sold (a) Inventory turnover Days in inventory 2025 $570,000 $580,000 1,875,000 1.207,500 1,001,000 Gross profitrate 2024 1,750,000 Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal place, eg. 5.2. days in inventory to O decimal places, eg 125 and gross profit rate to 1 decimal place, eg. 5.2%) 2023 $330,000 1.350,000 2025 939,000 times days 2024 times days %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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suject:accounting
Transcribed Image Text:The following information is available for Wildhorse's Activewear Inc. for three recent fiscal years.
Inventory
Net sales
Cost of goods sold
(a)
Inventory turnover
Calculate the inventory turnover, days in inventory, and gross profit rate for 2025 and 2024. (Round inventory turnover to 1 decimal
place, eg. 5.2, days in inventory to O decimal places, eg 125 and gross profit rate to 1 decimal place, eg. 5.2%)
Days in inventory
2025
2024
$570,000
$580,000
1,875,000 1,750,000
1.207,500 1,001,000
Gross profit rate
2023
$330,000
1,350,000
939,000
2025
times
days
2024
times
days
%
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