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Homework Answers
| Loonie Corporation | ||
| Average Inventory | $ 1,38,20,00,000.00 | |
| Inventory turnover | 5.77 | |
| Inventory turnover=Cost of goods sold/Average Inventory | ||
| 5.77=Cost of goods sold/$1382000000 | ||
| Cost of goods sold=($1382000000*5.77) | ||
| Cost of goods sold | $ 7,97,41,40,000.00 | |
| Average Total Fixed Assets | $ 1,30,20,00,000.00 | |
| Fixed Assets turnover | 8.52 | |
| Fixed Assets turnover=Net Sales/Average Fixed Assets | ||
| 8.52=Net Sales/$1302000000 | ||
| Net Sales=($1302000000*8.52) | ||
| Net Sales | $ 11,09,30,40,000.00 | |
| Gross Profit=Net Sales-Cost of goods sold | ||
| Net Sales=(A) | $ 11,09,30,40,000.00 | |
| Cost of goods sold=(B) | $ 7,97,41,40,000.00 | |
| Gross Profit=(A)-(B) | $ 3,11,89,00,000.00 | |
| or | ||
| Gross Profit= | $ 3,118.90 | Million |
| Gross Profit %=(Gross Profit/Sales)*100=($3118900000/11093040000)*100 | 28.1% | |
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