This information is available for Sheena's Photo Corporation for 2016 and 2017. $$\begin{array} { l r r }
&\underline { 2016 } & \underline { 2017 } \
\text { Beginning inventory } & \$ 200,000 & \$ 300,000 \
\text { Ending inventory } & 300,000 & 365,000 \
\text { Cost of goods sold } & 1,200,000 & 1,330,000 \
\text { Sales revenue } & 1,600,000 & 1,900,000
\end{array}$$ Instructions
Calculate inventory turnover days in inventory and gross profit rate for Sheena's Photo Corporation for 2016 and 2017. Comment on any trends.

Question

This information is available for Sheena's Photo Corporation for 2016 and 2017. $$\begin{array} { l r r } 
&\underline { 2016 } & \underline { 2017 } \
\text { Beginning inventory } & \$ 200,000 & \$ 300,000 \
\text { Ending inventory } & 300,000 & 365,000 \
\text { Cost of goods sold } & 1,200,000 & 1,330,000 \
\text { Sales revenue } & 1,600,000 & 1,900,000
\end{array}$$ Instructions
Calculate inventory turnover days in inventory and gross profit rate for Sheena's Photo Corporation for 2016 and 2017. Comment on any trends.

Quizplus · Accepted Answer

The Answer of This information is available for Sheena's Photo Corporation for 2016 and 2017. $$\begin{array} { l r r } 
&\underline { 2016 } & \underline { 2017 } \
\text { Beginning inventory } & \$ 200,000 & \$ 300,000 \
\text { Ending inventory } & 300,000 & 365,000 \
\text { Cost of goods sold } & 1,200,000 & 1,330,000 \
\text { Sales revenue } & 1,600,000 & 1,900,000
\end{array}$$ Instructions
Calculate inventory turnover days in inventory and gross profit rate for Sheena's Photo Corporation for 2016 and 2017. Comment on any trends.

This Information Is Available for Sheena's Photo Corporation for 2016