This information is available for Paik's Photo Corporation for 2010, 2011, and 2012. - 11537

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AE6-13 (a)
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This information is available for Paik's Photo Corporation for 2010, 2011, and 2012.

   

2010

2011

2012

  Beginning inventory $112,880   $311,410   $417,900  
  Ending inventory 306,410   402,860   482,510  
  Cost of goods sold 895,090   1,127,160   1,273,520  
  Sales 1,280,000   1,655,130   1,927,040  

Calculate inventory turnover, days in inventory, and gross profit rate (from Chapter 5) for Paik's Photo Corporation for 2010, 2011, 2012. (Round inventory turnover and days in inventory to 1 decimal place, e.g. 10.5. Use rounded amounts for future calculations. Round gross profit rate to 2 decimal places, e.g. 10.50.)

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AE6-13 (a) solu...