. What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days’ sales in inventory? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long on average did a unit of inventory sit on the shelf before it was sold?
. What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days’ sales in inventory? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long on average did a unit of inventory sit on the shelf before it was sold?
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...
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A7X Corporation has ending inventory of $684,273 and cost of goods sold for the year just ended was $4,358,722. |
a. | What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. |
What is the days’ sales in inventory? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
c. | How long on average did a unit of inventory sit on the shelf before it was sold? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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