7 Use the following information:Net salesCost of goods soldBeginning inventoryEnding inventorya. Calculate the inventory turnover ratio.b. Calculate the average days in inventory.c. Calculate the gross profit ratio.Required aComplete this question by entering your answers in the tabs below.Required b$170,000116,00039,00029,000Required cwww%Calculate the gross profit ratio. (Round your answer to 2 decimal places.)Gross profit ratio< Required bRequired c2

Name: 7 Use the following information:Net salesCost of goods soldBeginning i
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Description: 7 Use the following information:Net salesCost of goods soldBeginning inventoryEnding inventorya. Calculate the inventory turnover ratio.b. Calculate the average days in inventory.c. Calculate the gross profit ratio.Required aComplete this question by

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Business

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Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory a. Calculate the inventory turnover ratio. b. Calculate the average days in inventory. c. Calculate the gross profit ratio. $170,000 116,000 39,000 29,000 Complete this question by entering your answers in the tabs below. Required a Required b Required c Calculate the gross profit ratio. (Round your answer to 2 decimal places.) Gross profit ratio % < Required b Required c>

Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory a. Calculate the inventory turnover ratio. b. Calculate the average days in inventory. c. Calculate the gross profit ratio. $170,000 116,000 39,000 29,000 Complete this question by entering your answers in the tabs below. Required a Required b Required c Calculate the gross profit ratio. (Round your answer to 2 decimal places.) Gross profit ratio % < Required b Required c>

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 9PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...

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Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
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inventory as your base numper and adjust the couss amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) \table[[Date,, \table [[Purchases/Transportation - In /], [(PurchaseReturns/Discounts)]], \table [[Cost of Goods Sold/(Returns to], [Inventory)]], Balance in Inventory], [Units, Cost/Unit, Total $, Units, Cost/Unit, Total $, Units, \table[[Avg], [ Cost/Unit]], Total $], [Mar., Brought Forward,,r, 61, $, 93.00, $, 5, 673.00 Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods…