Given the following information find, Inventory Turnover and Profit Margin on Sales. COGS: $2.1 million Net...
Given the following information find, Inventory Turnover and Profit Margin on Sales.
COGS: $2.1 million
Net Income: $816,000
Inventory: $1.2 million
Contribution Margin: 58%
Homework Answers
Inventory Turnover:
Inventory Turnover = Cost of goods sold ÷ Inventory
= $2,100,000 ÷ $1,200,000
= 1.75 times
.
Profit Margin on Sales:
Sales = Cost of goods sold ÷ (100%-58%)
= $2,100,000 ÷ 42%
= $5,000,000
Profit margin on sales = (Net income ÷ Sales) x 100
= ($816,000 ÷ $5,000,000) x 100
= 0.1632 x 100
= 16.32%
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Given the following information find, Inventory Turnover and
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