Effect on cash flows (in millions): $ x Reduction c. Determine the FIFO values for inventories and cost of goods sold for Q1 of 2019. Recompute inventory turnover and DIO. FIFO inventories $ 9773 FIFO CGS$ 10857 Note: Do not round until your final answer; round your final answer to one decimal place (for example, enter 6.8 for 5.77555). Inventory turnover 1.1 Average inventory days times x days
Effect on cash flows (in millions): $ x Reduction c. Determine the FIFO values for inventories and cost of goods sold for Q1 of 2019. Recompute inventory turnover and DIO. FIFO inventories $ 9773 FIFO CGS$ 10857 Note: Do not round until your final answer; round your final answer to one decimal place (for example, enter 6.8 for 5.77555). Inventory turnover 1.1 Average inventory days times x days
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
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 6E: Inventory Write-Down The inventories of Berry Company for the years 2019 and 2020 are as follows:...
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