Sunland Company reported the following information for a three-year period: Ending inventory Sales Cost of goods sold Profit Inventory turnover 2021 $19,000 140,000 50,400 26,000 Days sales in inventory Gross profit margin 2021 2020 $29,000 148,000 53,280 42,000 The company's liquidity appears to be 2019 $33,000 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020. (Round number of days answers to 0 decimal places, e.g. 52. Round other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.) 114,000 41,040 41,000 times days % 2020 Based on this information, does the company's liquidity appear to be improving or deteriorating? times days ii % ....

Sunland Company reported the following information for a three-year period: Ending inventory Sales Cost of goods sold Profit Inventory turnover 2021 $19,000 140,000 50,400 26,000 Days sales in inventory Gross profit margin 2021 2020 $29,000 148,000 53,280 42,000 The company's liquidity appears to be 2019 $33,000 Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020. (Round number of days answers to 0 decimal places, e.g. 52. Round other answers to 2 decimal places, e.g. 52.75. Use 365 days for calculation.) 114,000 41,040 41,000 times days % 2020 Based on this information, does the company's liquidity appear to be improving or deteriorating? times days ii % ....

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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Financial statement data for years ending December 31 for Tango Company follow: a. Determine the inventory turnover for 20Y7 and 20Y6. b. Determine the days sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. c. Does the change in inventory turnover and the days sales in inventory from 20Y6 to 20Y7 indicate a favorable or an unfavorable trend?
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Inventory Analysis Singleton Inc. reported the following information for the current year: Required: Compute Singletons (a) gross profit ratio, (b) inventory turnover ratio, and (c) average days to sell inventory. (Note: Round all answers to two decimal places.)
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