BE 5-17 Inventory turnover ratio

BE 5-17 Inventory turnover ratio

        

During 2011, Rogue Corporation reported sales revenue of $600,000. Inventory at both the beginning and end of the year totaled $75,000. The inventory turnover ratio for the year was 6.0. What amount of gross profit did the company report in its income statement for 2011?

Chapter5: Income Measurement and Profitability Analysis Exercises. An alternate exercise and problem set is available on the text website: www.mhhe.com/spiceland6e

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