week 3 acc

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  • Analyze Tootsie Roll's 2015 Consolidated Statements of Earnings and Retained Earnings. Discuss the relevance for a manufacturer of reporting a gross profit amount. Then calculate or report the 2015 Gross Profit Rate (%) and the Profit Margin (%) as described in Chapter 5. Describe the meaning of these 2 numbers for Tootsie Roll.
  • Determine the inventory valuation method(s) used by Tootsie Roll. Discuss the reporting impact of using this method rather than another.
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    phyllis young
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