pateSelected information from the accounting records of Gavina Company is as follows:P 2,000,000Net sales for 2021500,000Cost of goods sold for 2021Inventory on December 31, 2020600,000Inventory on December 31, 2021200,000Gavina's inventcxy for 2021 is:Inventory turnover = Cost of goods soldAverage inventorya. 1.25 timesb. 3.66 timesO c. 4.0 timesd. 10.00 times

Inventory turnover a financial ratio the no of times the inventory has been replaced during a given…

Answered: of goods sold yergge inventory

Business

Accounting

of goods sold yergge inventory

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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