question archive The following information was available for Tamarisk, Inc
The following information was available for Tamarisk, Inc
Subject:AccountingPrice: Bought3
The following information was available for Tamarisk, Inc. at December 31, 2017: beginning inventory $86000; ending inventory $132000; cost of goods sold $652000; and sales $864000. Tamarisk days in inventory (rounded) in 2017The following information was available for Novak Corp. at December 31, 2017: beginning inventory $75000; ending inventory $130000; cost of goods sold $628000; and sales $808000. Novak inventory turnover ratio (rounded) in 2017Financial information is presented below:Operating expenses$ 44000Sales returns and allowances3000Sales discounts5000Sales revenue150000Cost of goods sold96000Gross Profit would beFinancial information is presented below:Operating expenses$ 34000Sales returns and allowances9000Sales discounts3000Sales revenue156000Cost of goods sold101000The gross profit rate would be.
