Answer Happy

1 ered d out of Solve for the missing amounts (show your supporting calculations in the workspace below): Bugs Elmer Foghorn $100,000 $438,000 Sales Cost of goods sold Inventory, beginning of year Inventory, end of year Average inventory Gross profit Inventory turnover Days in inventory Based on gross profit II 23,000 17,000 46% $239,000 122,000 345,000 45,000 39,000 %6 126 105,000 101,500 % appears to be a better managed company.

Based on gross profit Based on inventory turnover Very high inventory turnovers appears to be a better managed company. appears to be a better managed company.