(Answered) Question - inventory ratio calculationsdelroi inc provided

Accounting

Question - Inventory Ratio Calculations

Delroi, Inc. provided the following data for 2008 and 2009:

Inventory

December 31, 2007 $201,000

December 31, 2008 191,100

December 31, 2009 182,600

Cost of goods sold 2008 $632,000

2009

731,000

Gross margin

2008

$320,000

2009

440,000

Round all calculations to two decimal places.

(a) Calculate the inventory turnover ratio for 2008 and 2009.

(b) Calculate the gross margin return on inventory investment for 2008 and 2009.

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