This information is available for Pharaoh Photo Ltd, for 2015, 2016, and 2017.
2015 2016 2017
Beginning inventory 111,400 311,660 414,580
Ending inventory 311,660 414,580 489,710
Cost of goods sold 908,000 1,136,000 1,049,000
Sales revenue 1,207,290 1,596,720 1,890,070
(a)
Your answer is correct. Calculate inventory turnover for Pharaoh Photo Ltd. for 2015, 2016, and 2017. Round answers to 2 decimal places, e.g. 0.10.
Attempts: 1 of 3 used
(q)
Your answer is correct. Calculate days in inventory for Pharaoh Photo Ltd. for 2015, 2016, and 2017. Round answers to 1 decimal place, e.g. 1.5.
2015
Days in inventory: 6 days
2016
Days in inventory: 57.3 days
Attempts: 2 of 3 used
(c) Calculate gross profit rate for Pharaoh Photo Ltd. for 2015, 2016, and 2017. Round answers to 0 decimal places, e.g. 10%.
2015 2016 2017
Gross profit rate: 1%
Attempts: 0 of 3 used