use the following information relating to clover company to calculate the inventory turnover, ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023   Sales Cost of goods sold Average inventory Year 2021 250,000 187,500 24,000 Year 2022 295,000 221,250 30,000 Year 2023 323,000 242,250 35,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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use the following information relating to clover company to calculate the inventory turnover, ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023

 

Sales

Cost of goods sold

Average inventory

Year 2021

250,000

187,500

24,000

Year 2022

295,000

221,250

30,000

Year 2023

323,000

242,250

35,000

 

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