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Q12: The Slumber Store (TSS) is a national wholesaler of beds, mattresses, pillows, and sheets....

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Accounting

Q12: The Slumber Store (TSS) is a national wholesaler of beds, mattresses, pillows, and sheets. Key totals from TSSs most recent and forecasted financial statements are presented in the table below. 1. Use the financial statement totals to compute the companys actual inventory turnover ratio for this year and its forecasted inventory turnover ratio for next year. Also compute the days-to-sell for this year (actual) and next year (forecasted). Is inventory turnover expected to improve or worsen next year? 2. Use the financial statement totals to compute the companys actual gross profit percentage for this year and its forecasted gross profit percentage for next year. Is the gross profit percentage expected to improve or worsen next year? PLEASE SHOW EACH STEP WHILE KEEPING THE WORK EASY TO FOLLOW.
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