1. How is a company’s gross profi t determined? What does the gross profi t ratio tell you about a company’s performance during the year? 2. What is the relationship between the valuation of inventory...

1. How is a company’s gross profi t determined? What does the gross profi t ratio tell you about a company’s performance during the year?

2. What is the relationship between the valuation of inventory as an asset on the balance sheet and the measurement of income?

May 26, 2022