lem 9 The financial statement of mythical Reliance Inc. show that in 2012, its beginning inventory balance was $31.82 billion and ending inventory balance was $30.25 billion. The company's cost of goods sold was reported as $290.70 billion(all in U.S. dollars). Calculate the company's inventory turnover ratio for
lem 9 The financial statement of mythical Reliance Inc. show that in 2012, its beginning inventory balance was $31.82 billion and ending inventory balance was $30.25 billion. The company's cost of goods sold was reported as $290.70 billion(all in U.S. dollars). Calculate the company's inventory turnover ratio for
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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Problem 9
The financial statement of mythical Reliance Inc.
show that in 2012, its beginning inventory balance was
$31.82 billion and ending inventory balance was $30.25
billion. The company's cost of goods sold was reported
as $290.70 billion(all in U.S. dollars). Calculate the
company's inventory turnover ratio for 2012.
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