Firth Company's annual report shows an average inventory balance of $41,500 and cost of goods of $230,000. Total assets amount t $430,000 and liabilities amount to $103,000. Based on this information (treat any partial day as a whole day) Note: Do not round intermediate calculations. Multiple Choice the inventory turnover is 10. the inventory turnover is 2.8. the average number of days to sell inventory is 66. G

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Firth Company's annual report shows an average inventory balance of $41,500 and cost of goods of $230,000. Total assets amount to
$430,000 and liabilities amount to $103,000. Based on this information (treat any partial day as a whole day)
Note: Do not round intermediate calculations.
Multiple Choice
the inventory turnover is 10.
the inventory turnover is 2.8.
the average number of days to sell inventory is 66.
Transcribed Image Text:Information Firth Company's annual report shows an average inventory balance of $41,500 and cost of goods of $230,000. Total assets amount to $430,000 and liabilities amount to $103,000. Based on this information (treat any partial day as a whole day) Note: Do not round intermediate calculations. Multiple Choice the inventory turnover is 10. the inventory turnover is 2.8. the average number of days to sell inventory is 66.
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