Please help me with show all calculation thanku Inventory AnalysisA company reports the following:Cost of goods sold$256,230Average inventory56,940Determine (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 decimalplace. Assume 365 days a year.a. Inventory turnoverb. Number of days' sales in inventoryFeeddaysCheck My Worka. Divide cost of goods sold by average inventory.b. Divide average inventory by average daily cost of goods sold. Average daily cost of goods sold are Cost of Goods Sold divided by 365 days.

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Description: Please help me with show all calculation thanku Inventory AnalysisA company reports the following:Cost of goods sold$256,230Average inventory56,940Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calc

The inventory turnover ratio tells about the efficiency of the company to convert its inventory into…

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Accounting

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

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

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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