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On January 1, 2022, Bulldogs Inc. has an inventory account has a balance of P450,000. During the year, Bulldogs Inc. purchased P2,950,000 additional merchandise. On December 31, 2022, the inventory was counted and determined to have a balance of P925,000. What is the inventory turnover for 2022? *

On January 1, 2022, Bulldogs Inc. has an inventory account has a balance of P450,000. During the year, Bulldogs Inc. purchased P2,950,000 additional merchandise. On December 31, 2022, the inventory was counted and determined to have a balance of P925,000. What is the inventory turnover for 2022? *

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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On January 1, 2022, Bulldogs Inc. has an inventory account has a balance of P450,000. During the year, Bulldogs Inc. purchased P2,950,000 additional merchandise. On December 31, 2022, the inventory was counted and determined to have a balance of P925,000. What is the inventory turnover for 2022? *
Transcribed Image Text:On January 1, 2022, Bulldogs Inc. has an inventory account has a balance of P450,000. During the year, Bulldogs Inc. purchased P2,950,000 additional merchandise. On December 31, 2022, the inventory was counted and determined to have a balance of P925,000. What is the inventory turnover for 2022? *
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