Goldfire Ltd. provided the following information in 2013-2014: Particulars 31.3.2012 31.3.2013 31.3.2014 Inventory |Cost of goods sold Gross Margin S 202,400 S 190,400 | S 182,500 $ 642,000 | S 724,000 S 340,000 S 410,000 Calculate the inventory turnover ratio for 2013 and 2014. Round off decimal places. a. Inventory turnover ratio for 2013 is 2.88 and for 2014 is 2.46 b. Inventory turnover ratio for 2013 is 3.26 and for 2014 is 3.88 c. Inventory turnover ratio for 2013 is 2.26 and for 2014 is 3.38 d. Inventory turnover ratio for 2013 is 2.36 and for 2014 is 3.88
Goldfire Ltd. provided the following information in 2013-2014: Particulars 31.3.2012 31.3.2013 31.3.2014 Inventory |Cost of goods sold Gross Margin S 202,400 S 190,400 | S 182,500 $ 642,000 | S 724,000 S 340,000 S 410,000 Calculate the inventory turnover ratio for 2013 and 2014. Round off decimal places. a. Inventory turnover ratio for 2013 is 2.88 and for 2014 is 2.46 b. Inventory turnover ratio for 2013 is 3.26 and for 2014 is 3.88 c. Inventory turnover ratio for 2013 is 2.26 and for 2014 is 3.38 d. Inventory turnover ratio for 2013 is 2.36 and for 2014 is 3.88
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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