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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 52
Computing the gross profit percentage, the rate of inventory turnover, and days in inventory
Refer to the Carolina Communications data in Short Exercises 5-10 and 5-11.
Requirement
1. Calculate the gross profit percentage, rate of inventory turnover, and days in inventory ratios for 2012. One year earlier, at July 31, 2011, Carolina's inventory balance was $425.
Refer to the Carolina Communications data in Short Exercises 5-10 and 5-11.
Requirement
1. Calculate the gross profit percentage, rate of inventory turnover, and days in inventory ratios for 2012. One year earlier, at July 31, 2011, Carolina's inventory balance was $425.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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