Inventory Turnover and Days' Sales in Inventory Shown below are data from the Northern Company's accounting records: Year 1 Year 2 $8,000,000 $11,000,000 4,000,000 4,800,000 510,000 540,000 550,000 600,000 Sales Revenue Cost of Goods Sold Beginning Inventory Ending Inventory Calculate the company's (a) inventory turnover and (b) days' sales in inventory for both years. Round your answer to two decimal points. Year 1 Year 2 Inventory turnover Days' sales in inventory 0 0 0 0

Inventory Turnover and Days' Sales in Inventory Shown below are data from the Northern Company's accounting records: Year 1 Year 2 $8,000,000 $11,000,000 4,000,000 4,800,000 510,000 540,000 550,000 600,000 Sales Revenue Cost of Goods Sold Beginning Inventory Ending Inventory Calculate the company's (a) inventory turnover and (b) days' sales in inventory for both years. Round your answer to two decimal points. Year 1 Year 2 Inventory turnover Days' sales in inventory 0 0 0 0

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 27CE: Inventory Analysis Singleton Inc. reported the following information for the current year: Required:...

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