Calculate the gross profit ratio and inventory turnover ratio

p5-53a.xls

Sheet1

Problem 5-53A					Name
					Section
A	B	C	D	E	F	G	H
5	Data Input Section:		Abby's International Pasta Corporation
6
7		For year ended
8		(amounts in thousands)			June 30, 2011	June 30, 2010	June 30, 2009
9			Sales (domestic)		$ 416,049	$ 429,813	$ 445,849
10			Cost of sales		92,488	98,717	110,632
11			Inventory		17,030	16,341	12,659
12
13	Output Section:
14	Part a.				June 30, 2009	June 30, 2008
15		Gross profit ratio			Formula 1	Formula 2
16
17	Part b.
18		Average inventory			Formula 3	Formula 5
19		Inventory turnover ratio			Formula 4	Formula 6
20	Part c.
21	Type answer starting here
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	End of Problem

&LReimers, Financial Accounting 3e