Spiritlight Ventures shows the following information in their income statements:

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

Question

Spiritlight Ventures shows the following information in their income statements:
  
Calculate the following ratios for 2014 and 2013 using the given data:
(1)Inventory turnover rate.
(2)Number of days' sales in inventories.
(3)Gross profit margin on sales.

Quizplus · Accepted Answer

The Answer of Spiritlight Ventures shows the following information in their income statements:
  
Calculate the following ratios for 2014 and 2013 using the given data:
(1)Inventory turnover rate.
(2)Number of days' sales in inventories.
(3)Gross profit margin on sales.

Spiritlight Ventures Shows the Following Information in Their Income Statements