The Following Information Is Available for Porter Company for Its

question 56

Essay

The following information is available for Porter Company for its fiscal year ending January 31,Year 2:
$\begin{array}{lr}\text { Net Sales } & \$ 745,400 \\\text { Cost of Goods Sold } & 614,320 \\\text { Inventory, 1/31, Year 1 } & 80,690 \\\text { Inventory, 1/31, Year 2 } & 81,440\end{array}$
Compute the following financial ratios for Porter Company:
A)gross profit ratio
B)inventory turnover ratio
C)average days to sell inventory

• A)gross profit ratio
• B)inventory turnover ratio
• C)average days to sell inventory

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Definitions:

Agranular Leukocytes

White blood cells without granules in their cytoplasm, which play a role in the immune system, including lymphocytes and monocytes.

Neutrophils

A type of white blood cell that plays a key role in the immune system by engulfing and destroying pathogens and debris.

Basophils

A type of white blood cell involved in immune responses, particularly known for releasing histamine and playing a role in allergic reactions.

Eosinophils

A type of white blood cell involved in the body's immune response, particularly known for their role in fighting parasitic infections and contributing to allergic reactions.