Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods...

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Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and in

b. Compute the inventory turnover ratio and the average inventory days outstanding for 2013 for each company Do not round unt

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Answer 1

Answer #1

	Tiffany		Zale		Blue Nile, Inc
	2013	2012	2013	2012	2013	2012
Gross Profit*	$ 2,340.00	$ 2,163.00	$ 984.00	$ 961.00	$ 84.00	$ 75.00
Gross Profit Margin**	58.05%	57.01%	52.12%	51.47%	18.67%	18.75%


Gross Profit = Sales - Cost of goods sold
Gross Profit margin = Gross Profit/Sales

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Answer 2

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