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Dollar General corporation operates general merchandise stores that feature quality merchandise at low prices to meet the needs of middle, low and fixed income families. All stores are located in the US predominantly in small towns in 24 Midwestern and Southeastern states. In a recent year, the company reported average inventories of $1,456,414,000 and an inventory turnover ratio of 4.6. Average total fixed assets were $1,218,874,000 and the fixed asset turnover ratio was 7.5. Determine the gross profit for Dollar General.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975303

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