4. Given the following information, calculate the inventory turnover for a Company. Evaluate the trend results. • • 2020: Cost of goods sold― $2,168,000; Beginning inventory- $408,000; Ending inventory $489,000. 2021: Cost of goods sold- $945,000; Beginning inventory- $436,000; Ending inventory $408,000.

Principles of Accounting Volume 1
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Author:OpenStax
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Chapter10: Inventory
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Problem 16PA: Use the following information relating to Clover Company to calculate the inventory turnover ratio,...
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4. Given the following information, calculate the inventory turnover for a Company.
Evaluate the trend results.
•
•
2020: Cost of goods sold― $2,168,000; Beginning inventory- $408,000; Ending
inventory $489,000.
2021: Cost of goods sold- $945,000; Beginning inventory- $436,000; Ending
inventory $408,000.
Transcribed Image Text:4. Given the following information, calculate the inventory turnover for a Company. Evaluate the trend results. • • 2020: Cost of goods sold― $2,168,000; Beginning inventory- $408,000; Ending inventory $489,000. 2021: Cost of goods sold- $945,000; Beginning inventory- $436,000; Ending inventory $408,000.
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