Jaded Corporation has the following account balances for the year-ended In addition, the 12/31/23 balances for Accounts Receivable and Inventory are $45,000 and $95,000, respectively. dr Accounts Receivable Inventory Purchases Freight-In Purchases Discount Purchases Returns Purchase Allowances Sales Revenue Interest Revenue Sales Returns & Allowances Sales Discounts 32,000 20,000 480,000 5,000 OA. 39 days B. 14 days OC. 27.6 times O D. 9.6 times $8,000 50,000 10,000 Selling Expenses General & Administrative Exp Other Operating Expenses Freight-Out 9,000 Interest Expense 2,000 Loss on Sale of Truck 5,000 What is the inventory turnover for the period? 15,000 30,000 cr $4,000 3,000 1,000 1,850,000 1,000
Jaded Corporation has the following account balances for the year-ended In addition, the 12/31/23 balances for Accounts Receivable and Inventory are $45,000 and $95,000, respectively. dr Accounts Receivable Inventory Purchases Freight-In Purchases Discount Purchases Returns Purchase Allowances Sales Revenue Interest Revenue Sales Returns & Allowances Sales Discounts 32,000 20,000 480,000 5,000 OA. 39 days B. 14 days OC. 27.6 times O D. 9.6 times $8,000 50,000 10,000 Selling Expenses General & Administrative Exp Other Operating Expenses Freight-Out 9,000 Interest Expense 2,000 Loss on Sale of Truck 5,000 What is the inventory turnover for the period? 15,000 30,000 cr $4,000 3,000 1,000 1,850,000 1,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Jaded Corporation has the following account balances for the year-ended December 31, 2024.
In addition, the 12/31/23 balances for Accounts Receivable and Inventory are $45,000 and $95,000, respectively.
dr
Accounts Receivable
Inventory
Purchases
Freight-In
Purchases Discount
Purchases Returns
Purchase Allowances.
Sales Revenue
Interest Revenue.
Sales Returns & Allowances
Sales Discounts
32,000
20,000
480,000
5,000
$8,000
50,000
Selling Expenses
10,000
General & Administrative Exp
15,000
30,000
Other Operating Expenses
Freight-Out
9,000
Interest Expense
2,000
Loss on Sale of Truck
5,000
What is the inventory turnover for the period?
A. 39 days
B. 14 days
C. 27.6 times
D. 9.6 times.
cr
$4,000
3,000
1,000
1,850,000
1,000
+
8
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