Income statements for Maroon Co.show the following:

From the data presented,calculate the following ratios for 2014 and 2013:
(1)Inventory turnover rate.
(2)Number of days' sales in inventories.
(3)Gross profit margin on sales.

Question

Income statements for Maroon Co.show the following:
  
From the data presented,calculate the following ratios for 2014 and 2013:
(1)Inventory turnover rate.
(2)Number of days' sales in inventories.
(3)Gross profit margin on sales.

Quizplus · Accepted Answer

The Answer of Income statements for Maroon Co.show the following:
  
From the data presented,calculate the following ratios for 2014 and 2013:
(1)Inventory turnover rate.
(2)Number of days' sales in inventories.
(3)Gross profit margin on sales.

Income Statements for Maroon Co.show the Following