Calculate the inventory turnover days in inventory and, Accounting Basics

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Calculate the inventory turnover days in inventory and

Question: The following information is available for Zoe's Activewear Inc. for three recent fiscal years.

Instructions: a) Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016.

(b) Based on the ratios calculated in part (a), did Zoe's liquidity and profitability improve or deteriorate in 2017?

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Accounting Basics: Calculate the inventory turnover days in inventory and

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Accounting Basics: Calculate the inventory turnover days in inventory and

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