Inventory Analysis A company reports the following: Cost of goods sold $256,230 Average inventory 56,940 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 decim. place. Assume 365 days a year a. Inventory turnover b. Number of days' sales in inventory days

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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