Question - The following are sales, cost of sales, and inventory data for a company, a wholesale distributor of car accessories. Dollar amounts are in millions.
|
2015
|
2014
|
2013
|
2012
|
|
Sales
|
125
|
120
|
112
|
100
|
|
Cost of sales
|
110
|
95
|
90
|
80
|
|
Beginning inventory
|
16
|
15
|
13
|
11
|
|
Ending inventory
|
14
|
13
|
12
|
10
|
Required - For each year, calculate the following ratios (1) Gross margin as a percentage of sales and (2) Inventory turnover?