Calculate the gross profit ratio and the inventory turnover ratio for the fiscal year ended...
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Accounting
Calculate the gross profit ratio and the inventory turnover ratio for the fiscal year ended February 1, 2020. Compare Targets ratios with the industry averages of 24.5% and 7.1 times. Determine whether Targets ratios indicate the company is more or less profitable and sells its inventory more or less frequently compared to the industry average. Note: Do not round intermediate calculation. Round "Gross profit ratio" to 1 decimal place and "Inventory turnover ratio" to 2 decimal places.
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