The following information is available for Porter Company for its fiscal year ending January 31,Year 2:
$\begin{array}{lr}
\text { Net Sales } & \$ 745,400 \
\text { Cost of Goods Sold } & 614,320 \
\text { Inventory, 1/31, Year 1 } & 80,690 \
\text { Inventory, 1/31, Year 2 } & 81,440
\end{array}$
Compute the following financial ratios for Porter Company:

Question

The following information is available for Porter Company for its fiscal year ending January 31,Year 2:
 $\begin{array}{lr}
\text { Net Sales } & \$ 745,400 \
\text { Cost of Goods Sold } & 614,320 \
\text { Inventory, 1/31, Year 1 } & 80,690 \
\text { Inventory, 1/31, Year 2 } & 81,440
\end{array}$ 
Compute the following financial ratios for Porter Company:

Quizplus · Accepted Answer

The Answer of The following information is available for Porter Company for its fiscal year ending January 31,Year 2:
 $\begin{array}{lr}
\text { Net Sales } & \$ 745,400 \
\text { Cost of Goods Sold } & 614,320 \
\text { Inventory, 1/31, Year 1 } & 80,690 \
\text { Inventory, 1/31, Year 2 } & 81,440
\end{array}$ 
Compute the following financial ratios for Porter Company:

The Following Information Is Available for Porter Company for Its