Calculation Questions: 5. The following information relates to ABC Limited. The owner is concerned about the profitability and financial structure of the business at 30 June 2018, especially since the bank requires repayment of the business's overdraft. Revenues (sales on credit) Gross profit Other expenses Inventories Trade accounts payable 30 June 2017 $55,000 20, 900 7,000 15,000 26,000 Required 1. Calculate the inventory turnover for 2017 and 2018. 2. Calculate the inventory turnover in days for 2017 and 2018. 30 June 2018 $41,000 14,700 9,000 18 000 29,000

Calculation Questions: 5. The following information relates to ABC Limited. The owner is concerned about the profitability and financial structure of the business at 30 June 2018, especially since the bank requires repayment of the business's overdraft. Revenues (sales on credit) Gross profit Other expenses Inventories Trade accounts payable 30 June 2017 $55,000 20, 900 7,000 15,000 26,000 Required 1. Calculate the inventory turnover for 2017 and 2018. 2. Calculate the inventory turnover in days for 2017 and 2018. 30 June 2018 $41,000 14,700 9,000 18 000 29,000

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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