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Dollar Stretch Corporation operates general merchandise stores that feature quality merchandise at low prices to...

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Accounting

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Dollar Stretch Corporation operates general merchandise stores that feature quality merchandise at low prices to meet the needs of middle-, low-, and fixed-income families in southern, eastern, and midwestern states. For the year ended February 1, 2019, the company reported average inventory of $2,476 (in millions) and an inventory turnover of 4.90. Average total fixed assets were $2,079 (million) and the fixed asset turnover ratio was 8.42. Required: 1-a. Calculate Dollar Stretch Corporation's net sales and cost of goods sold. 1-b. Compute the gross profit percentage. 2. Is this an improvement from the gross profit percentage of 31.3 percent earned during the previous year? Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 2 Calculate Dollar Stretch Corporation's net sales and cost of goods sold. (Enter your answers in whole dollars.) Net Sales Cost of Goods Sold

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