Financial statement data for years ending December 31 for Tango Company follow: 20Y7 $3,878,490 Cost of goods sold Inventories: Beginning of year. End of year Required 803,000 883,300 20Y6 $4,257,360 2017 773,800 803,000 a. Determine the inventory turnover for 2017 and 20Y6. Round to one decimal place. 20Y6

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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