Calculate Gross Profit Ratio Given the Following Information: Accounts Receivable

question 86

Multiple Choice

Calculate gross profit ratio given the following information: accounts receivable = $40,000; inventory = $80,000; receivable turnover = 25 times; inventory turnover = 6 times.

• A) 50%
• B) 51%
• C) 52%
• D) 53%
• E) 54%

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Definitions:

Personal Growth

The process of improving oneself through activities that enhance self-awareness, develop talents, and potentially increase quality of life.

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