The table below contains selected financial information from recent financial statements of KBI Toys and Little Tikes Adventure Toys, Inc., two toy manufacturing companies ($ in thousands): KBI Toys Little Tikes Net sales Cost of goods sold Year-end inventory 12/31/2021 12/31/2020 12/31/2021 12/31/2020 $৪e,৪22 63,500 7,500 $72,320 53,900 7,eee $63,680 42,000 5,900 $69,100 46,425 6,400 Required: Calculate the 2021 gross profit ratio, inventory turnover ratio, and the average days in inventory for the two companies. (Do not round intermediate values. Round your gross profit ratio and average days in inventory to the nearest whole number. Round "Inventory turnover" answer to two decimal places.) KBI TOYS LITTLE TIKES Gross profit ratio % Inventory turnover Average days in inventory days days
The table below contains selected financial information from recent financial statements of KBI Toys and Little Tikes Adventure Toys, Inc., two toy manufacturing companies ($ in thousands): KBI Toys Little Tikes Net sales Cost of goods sold Year-end inventory 12/31/2021 12/31/2020 12/31/2021 12/31/2020 $৪e,৪22 63,500 7,500 $72,320 53,900 7,eee $63,680 42,000 5,900 $69,100 46,425 6,400 Required: Calculate the 2021 gross profit ratio, inventory turnover ratio, and the average days in inventory for the two companies. (Do not round intermediate values. Round your gross profit ratio and average days in inventory to the nearest whole number. Round "Inventory turnover" answer to two decimal places.) KBI TOYS LITTLE TIKES Gross profit ratio % Inventory turnover Average days in inventory days days
Chapter1: Financial Statements And Business Decisions
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