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At Decemeber 31,2020, the following information was available for Blossom Company: ending inventory $18,080; beginning inventory $17,120; cost of goods sold $137,280; and sales revenue $344,000. Calculate the inventory turnover and days in inventory for Blossom. Inventory turnover times Days in inventory _days

At Decemeber 31,2020, the following information was available for Blossom Company: ending inventory $18,080; beginning inventory $17,120; cost of goods sold $137,280; and sales revenue $344,000. Calculate the inventory turnover and days in inventory for Blossom. Inventory turnover times Days in inventory _days

FINANCIAL ACCOUNTING
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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At Decemeber 31,2020, the following information was available for Blossom Company: ending inventory $18,080; beginning inventory $17,120; cost of goods sold $137,280; and sales revenue $344,000. Calculate the inventory turnover and days in inventory for Blossom. Inventory turnover times Days in inventory _days
Transcribed Image Text:At Decemeber 31,2020, the following information was available for Blossom Company: ending inventory $18,080; beginning inventory $17,120; cost of goods sold $137,280; and sales revenue $344,000. Calculate the inventory turnover and days in inventory for Blossom. Inventory turnover times Days in inventory _days
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