What would be the Average Inventory? Part BSelected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow.Beginning inventory, January 1Cost of goods soldEnding inventory, March 31Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022.Complete this question by entering your answers in the tabs below.Part APart BCompute inventory turnover and days' sales in inventory for the three months ended March 31, 2022.Inventory Turnover1 Choose Denominator:Average inventoryChoose Numerator:Cost of goods sold$Ending inventory$14,052 /Choose Numerator:14,052704704 / $Days' Sales in Inventory1 Choose Denominator:/Cost of goods sold14,052====Inventory TurnoverInventory Turnover0Ratio0.1 days

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Description: What would be the Average Inventory? Part BSelected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow.Beginning inventory, January 1Cost of goods soldEnding inventory, March 31Compute inventory turnover an

Average inventory =( Opening inventory + Closing inventory )/2 =…

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Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Inventory Turnover Choose Numerator: ost of goods sold $ 1 Choose Denominator: /Average inventory 14,052 / = = = Inventory Turnover Inventory Turnover

Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Inventory Turnover Choose Numerator: ost of goods sold $ 1 Choose Denominator: /Average inventory 14,052 / = = = Inventory Turnover Inventory Turnover

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 2PEA: Beginning inventory, purchases, and sales for Item ProX2 are as follows: Assuming a perpetual...

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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What would be the Average Inventory?

Part B
Selected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow.
Beginning inventory, January 1
Cost of goods sold
Ending inventory, March 31
Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022.
Complete this question by entering your answers in the tabs below.
Part A
Part B
Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022.
Inventory Turnover
1 Choose Denominator:
Average inventory
Choose Numerator:
Cost of goods sold
$
Ending inventory
$
14,052 /
Choose Numerator:
14,052
704
704 / $
Days' Sales in Inventory
1 Choose Denominator:
/Cost of goods sold
14,052
=
=
=
=
Inventory Turnover
Inventory Turnover
0
Ratio
0.1 days

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