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Baskin-Robbins is one of the world's largest speciatty ice cream shops. The company offers dozens...

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Accounting

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Baskin-Robbins is one of the world's largest speciatty ice cream shops. The company offers dozens of different fiavors, from Very Berry Strawberry to lowfat Espresso 'n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2024. Required: 1. Prepore a multiple-step income statement for the month ended July 31,2024. 2-a. Calculate the inventery turnover ratio for the month of July. 2.b. Would you expect this ratio to be higher or lower in December 2024? 3. Calculate the gross profit ratio for the month of July. Multiple-Step Income Statement For the Month of July 2024 Calculate the inventory turnover ratio for the month of July. Would you expect this ratio to be higher or lower in December 2024? Would you expect this ratio to be higher or lower in December 2024? Calculate the gross profit ratio for the month of July

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