Directions Before beginning the discussion, compute for each year Costco's: gross margin percentage (carry to one decimal point). • return on assets percentage (carry to one decimal point). inventory turnover ratio, and average days to sell inventory. . . (Later provide your calculations when responding to a discussion question.) Costco Wholesale Corporation operated 787 stores as of September 1, 2019. The following data were taken from the company's annual report. All dollar amounts are in millions. Fiscal Year Ending Net sales Cost of goods sold Net income Merchandise inventory Fiscal Years Ending 12/31/2019 $ 152,903 132,886 3,659 11,395 12/31/2018 $ 141,576 123,152 3,134 11,040 Discussion Questions 1. Based on Costco's gross margin and return on sales percentages, did its performance improve in 2019? Explain

Directions Before beginning the discussion, compute for each year Costco's: gross margin percentage (carry to one decimal point). • return on assets percentage (carry to one decimal point). inventory turnover ratio, and average days to sell inventory. . . (Later provide your calculations when responding to a discussion question.) Costco Wholesale Corporation operated 787 stores as of September 1, 2019. The following data were taken from the company's annual report. All dollar amounts are in millions. Fiscal Year Ending Net sales Cost of goods sold Net income Merchandise inventory Fiscal Years Ending 12/31/2019 $ 152,903 132,886 3,659 11,395 12/31/2018 $ 141,576 123,152 3,134 11,040 Discussion Questions 1. Based on Costco's gross margin and return on sales percentages, did its performance improve in 2019? Explain

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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