Inventory Analysis A company reports the following: Cost of goods sold Average inventory Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. $481,800 80,300 a. Inventory turnover b. Number of days' sales in inventory days

Inventory Analysis A company reports the following: Cost of goods sold Average inventory Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. $481,800 80,300 a. Inventory turnover b. Number of days' sales in inventory days

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Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 5PEA

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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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Inventory Analysis
A company reports the following:
Cost of goods sold
Average inventory
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place.
Assume 365 days a year.
$481,800
80,300
a. Inventory turnover
b. Number of days' sales in inventory
days

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