The following data were extracted from the income statement of Martin Solutions, Inc.:   Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,000 64,000 Cost of goods sold 500,800 606,000 Ending inventory 72,000 80,000   Required: Assume a 365-day year. Determine for each year: a. Inventory turnover. Round your answers to one decimal place. Year 2 fill in the blank 1 Year 1 fill in the blank 2 b. Number of days' sales in inventory. Round your final answer to one decimal place. Year 2 fill in the blank 3 days Year 1 fill in the blank 4 days

The following is Cullumber Company’s income statement for the past year. Sales revenue   $336,000 Cost of goods sold   134,400 Gross margin   201,600 Operating expenses   145,600 Operating income   $56,000   What is the gross margin percentage? (Round answer to 0 decimal places, e.g. 45%.) Gross margin percentage   enter gross margin percentage rounded to 0 decimal places %

Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold Merchandise inventory Beginning of year End of year $2,050,000 1,435,000 Merchandise inventory turnover 157,000 196,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) times

Based on the following data for the current year, what is the inventory turnover (rounded to one decimal place)? Sales on account during year $469,274 Cost of merchandise sold during year 179,305 Accounts receivable, beginning of year 42,159 Accounts receivable, end of year 52,598 Merchandise inventory, beginning of year 32,886 Merchandise inventory, end of year 40,548 Oa. 17.7 Ob. 12.8 Oc. 3.9 Od. 4.9

Assume the following sales data for a company: Line Item Description Amount Current year $891,303 Preceding year 515,759 What is the percentage increase in sales from the preceding year to the current year?

A company reports the following: Cost of goods sold $442,380 Average inventory 73,730 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a.  Inventory turnover fill in the blank 1 b.  Number of days' sales in inventory

The following data are taken from the financial statements:   Current Year Preceding Year Sales $3,600,000     $4,000,000                 Cost of goods sold 2,000,000     2,700,000                 Beginning inventory 372,000     352,000                 Inventory, end of year 390,000     372,000                 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. 1. The inventory turnover: (If required, round your answers to one decimal place.) Current Yearfill in the blank 1 Preceding Yearfill in the blank 2 2. The number of days' sales in inventory: Assume a 365-day year. (Round your intermediate calculation to whole number and final answers to two decimal places.) Current Yearfill in the blank 3 days Preceding Yearfill in the blank 4 days b. Comment on the favorable and unfavorable trends revealed by the data. Sales (decreased/increased) while gross profit (decreased/increased). The inventory turnover (declined/rose) and…

Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold Merchandise inventory Beginning of year End of year $1,600,000 1,120,000 Merchandise inventory turnover 151,000 199,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) times

The following data were extracted from the income statement of Brecca Systems Inc.:   Current Year Preceding Year Sales $1,533,000   $1,377,915   Beginning inventories 150,275   135,275   Cost of goods sold 876,000   835,100   Ending inventories 124,275   150,275     a.  (1). Determine for each year the inventory turnover. Round to one decimal place. Current year fill in the blank 1 Preceding year fill in the blank 2        (2). Determine for each year the number of days' sales in inventory. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Current year fill in the blank 3 days Preceding year fill in the blank 4 days

Based on the following information compute (a) inventory turnover, (b) average daily cost of merchandise sold, and (c) days' sales in inventory for the current year. Use a 365-day year.   Item Prior Year Current Year Cost of merchandise sold $172,900 $215,000 Inventory    18,000    12,000   If required, round your answers to two decimal places. (a)  Inventory turnover   times (b)  Average daily cost of merchandise sold $   (c)  Days' sales in inventory   days (d)  If an inventory turnover of 12 is average for the industry, how is this company doing?