A manufacturing company has annual sales of 625 million and an average annual inventory valued at 25 million. With a cost of goods sold of 0.88 per sales dollar, what is the inventory turn value for the company? What average inventory turn value would produce a turn ratio of 150?

A manufacturing company has annual sales of 625 million and an average annual inventory valued at 25 million. With a cost of goods sold of 0.88 per sales dollar, what is the inventory turn value for the company? What average inventory turn value would produce a turn ratio of 150?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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A manufacturing company has annual solution this general accounting question

A manufacturing company has annual sales of 625
million and an average annual inventory valued at 25
million. With a cost of goods sold of 0.88 per sales dollar,
what is the inventory turn value for the company? What
average inventory turn value would produce a turn ratio
of 150?

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