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Inventory turnover times

Inventory turnover times

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At December 31, 2019, the following information was available for Pina Colada Corp.: ending inventory $38,250, beginning inventory $58,500, cost of goods sold $270,900, and sales revenue $366,000. Calculate inventory turnover for Pina Colada Corp.. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT VIDEO TUTORIAL Calculate days in inventory for Pina Colada Corp.. (Round answer to 1 decimal place, e.g. 1.5. Use 365 days for calculation.) Days in inventory days
Transcribed Image Text:At December 31, 2019, the following information was available for Pina Colada Corp.: ending inventory $38,250, beginning inventory $58,500, cost of goods sold $270,900, and sales revenue $366,000. Calculate inventory turnover for Pina Colada Corp.. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT VIDEO TUTORIAL Calculate days in inventory for Pina Colada Corp.. (Round answer to 1 decimal place, e.g. 1.5. Use 365 days for calculation.) Days in inventory days
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