Compute company inventory turnover ratio
Problem:
JP Vineyards has sales of $859,000, a gross profit margin of 0.328, and inventory of $177,000.
Required:
Question: What is the company's inventory turnover ratio?
Note: Explain all steps comprehensively.
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Archware Systems has total assets of $35.594 billion, total debt of $9.678 billion, and net sales of $23.630 billion. Their net profit margin for the year was 0.25, while the operating profit margin was 30 percent.
What is the company's inventory turnover ratio? Note: Explain all steps comprehensively.
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