The following information is from the financial statements of Abby’s International Pasta Corporation
Requirements
1. Calcuate the gross profit ratio for the last two years shown
2. Calcuate the inventory turnover ratio for the last two years shown
3. What information do these comparisons provide?
Sheet3 Sheet2 Sheet1 A B C D E G H Name Section F End of Problem Data Input Section: For year ended June 30, 2009 Sales (domestic) Cost of sales Inventory Output Section: Part a. June 30, 2008 Gross profit ratio Part b. Inventory turnover ratio Part c. Average inventory (amounts in thousands) Formula 1 Formula 2 Formula 3 Formula 4 Formula 5 Formula 6 Type answer starting here June 30, 2011 June 30, 2010 Problem 5-53A Abby’s International Pasta Corporation Reimers, Financial Accounting 3e 5.00 6.00 7.00 8.00 9.00 $416,049.00 $429,813.00 $445,849.00 10.00 $92,488.00 $98,717.00 $110,632.00 11.00 $17,030.00 $16,341.00 $12,659.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00 23.00 24.00 25.00 26.00 27.00 28.00 29.00 30.00 31.00 32.00 33.00 34.00 Sheet3 Sheet2 Sheet1 A B C D E G H Name Section F End of Problem Data Input Section: For year ended June 30, 2009 Sales (domestic) Cost of sales Inventory Output Section: Part a. June 30, 2008 Gross profit ratio Part b. Inventory turnover ratio Part c. Average inventory (amounts in thousands) Formula 1 Formula 2 Formula 3 Formula 4 Formula 5 Formula 6 Type answer starting here June 30, 2011 June 30, 2010 Problem 5-53A Abby’s International Pasta Corporation Reimers, Financial Accounting 3e 5.00 6.00 7.00 8.00 9.00 $416,049.00 $429,813.00 $445,849.00 10.00 $92,488.00 $98,717.00 $110,632.00 11.00 $17,030.00 $16,341.00 $12,659.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00 23.00 24.00 25.00 26.00 27.00 28.00 29.00 30.00 31.00 32.00 33.00 34.00 ????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
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