Acct exam 3 formulas

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9 Terms

1
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Gross Margin Ratio

Gross profit / Net Sales

2
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Acid - Test Ratio

(Cash + Short-term investments + Current receivables) / Current Liabilities

3
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Inventory Turnover

COGS / Average Merchandise Inventory

4
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Days’ Sales in Inventory

(Ending Inventory / COGS) x 365

5
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(Multi) Gross Profit

Net Sales - COGS

6
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(Multi) income from operations

Gross Profit - Operation Expense

7
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(multi) Net Income

Income from operations +- other income / expenses

8
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(inventory cost flow) Cost of goods available for sale

beginning inventory + Purchases

9
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(Inventory Cost Flow) Units Available

Beginning Units + purchases units