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2 Sales (all on account) Cost of goods sold Average inventory during the year Average...

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Accounting

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2 Sales (all on account) Cost of goods sold Average inventory during the year Average receivables during the year Year 2 $ 762,000 477,000 102,cee 159,900 Year 1 $ 610,000 418,000 92,000 100,000 ook 0-1. Compute the gross profit percentage for both years (Round your percentage answers to the nearest whole number. i.e. 0123 as 12%.) 0-2. Compute the inventory turnover for both years. (Round your answers to 1 decimal place.) 0-3. Compute the accounts receivable turnover for both years (Round your answers to 1 decimal place.) b. Which of the following show a positive or negative trend? int ences a-1 Gross profit percentage 0-2 Inventory turnover a-3 Accounts receivable tumover Year 2 % times Year 1 % times times Trend b Gross profit rate Inventory turnover Accounts receivable turnover Growth in net sales

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