EBalance SheetMurawski CompanyBalance SheetDecember 31Current AssetsCash and cash equivalents$330$360Accounts receivable (net)470400Inventory460390120160Prepaid expensesTotal current assets1.3801.310investments1010Property, plant, and equipment420380Intangibles and other assets530510Total assets$2.340$2.210Current liabilities$900$790410380Long term liabilities.Stockholder's equity common1.0301,040Total liabilities and stockholder's equity $2.340 $2.210Income StatementMurawski CompanyIncome StatementFor the Years Ended December 3120222021$3.460Sales RevenueCosts and expensesCost of goods sold890Selling and Administrative expens7.310interest expense20Total costs and expenses3,240income before income taxes220income tax expense60Net Income$134C22V2022$3,8009557,400253,38042012652942021WCalculate the 2021 Inventory Turnover ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.Example1500 ÷ 800= 1.88Inventory Turnover Ratio 2021890= 0=Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.52°F Mostly clear11:31 PM5/23/2022

Introduction:- Inventory turnover ratio is the cost of goods sold divided by the average inventory…

Answered: 890 Inventory Turnover Ratio 2021 Q =…

Business

Accounting

890 Inventory Turnover Ratio 2021 Q = ·.1.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 9?
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