(Learning Objective 4: Compute ratio data to evaluate operations) Pepper Company made sales of… 1 answer below »

(Learning Objective 4: Compute ratio data to evaluate operations) Pepper Company made sales of $53,376 million during 2014. Cost of goods sold for the year totaled $24,437 million. At the end of 2013, Pepper’s inventory stood at $2,672 million, and Pepper ended 2014 with inventory of $2,908 million. Compute Pepper’s gross profit percentage and rate of inventory turnover for 2014.

 

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