A company reports the following: Cost of goods sold $216,080 Average inventory 54,020 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover 4 b. Number of days' sales in inventory X days 91

A company reports the following: Cost of goods sold $216,080 Average inventory 54,020 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover 4 b. Number of days' sales in inventory X days 91

Name: Thventory AnalysisA company reports the following:Cost of goods sold$
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Description: Thventory AnalysisA company reports the following:Cost of goods sold$216,080Average inventory54,020Determine (a) the inventory turnover and (b) the number of days' sales in inventory.Round interim calculations to the nearest dollar and final answers

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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