The following information is available for Bridgeport Corp. for three recent fiscal years. Inventory Net sales - Cost of goods sold Inventory Turnover Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to O decimal places, eg. 125 and gross profit rate to 1 decimal place, e.g. 5.2%) Days in Inventory 2017 2016 $554,103 $572,288 1.965,543 1.739,520 1.572,196 1.307,512 Gross Profit Rate 2015 $325,447 1,285,838 965,338 2017 times days 2016 times days %

The following information is available for Bridgeport Corp. for three recent fiscal years. Inventory Net sales - Cost of goods sold Inventory Turnover Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to O decimal places, eg. 125 and gross profit rate to 1 decimal place, e.g. 5.2%) Days in Inventory 2017 2016 $554,103 $572,288 1.965,543 1.739,520 1.572,196 1.307,512 Gross Profit Rate 2015 $325,447 1,285,838 965,338 2017 times days 2016 times days %

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 27CE: Inventory Analysis Singleton Inc. reported the following information for the current year: Required:...

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