example jc penny inc 2007 net sale is 17,556 percent is 100-/2008 net sale 18,486 percet 91/2009 net sale is 17,556 percent 88.49 how do you get percent what step do i take to know how to do a percent of net sale for any company
example jc penny inc 2007 net sale is 17,556 percent is 100-/2008 net sale 18,486 percet 91/2009 net sale is 17,556 percent 88.49 how do you get percent what step do i take to know how to do a percent of net sale for any company
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Itâs Good, YâAll! is a Texas-based company that operates a largechain of restaurants. The following information is available forthe company (in thousands):
| Category | 2007 | 2008 | 2009 |
|---|---|---|---|
| Net Sales | $400,577 | $517,616 | $640,898 |
| Cost of Goods Sold | $130,885 | $171,708 | $215,071 |
| Net Income | $33,943 | $46,652 | $57,497 |
| Ending Inventory | $23,192 | $28,426 | $41,989 |
Compute the companyâs inventory turnover ratio and age ofinventory for 2007 through 2009. Beginning inventory for 2007 was$15,746,000.
Comment on the ratios computed in Part A. Are there any definitetrends in theses ratios? If so, are these trends favorable orunfavorable? Explain.
Why do decision makers pay close attention to the age of aninventory statistic for companies in the restaurant industry?
