On January 1, 2022, Twice Inc. has an inventory account has a balance of P450,000. During the year, Twice 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, Twice Inc. has an inventory account has a balance of P450,000. During the year, Twice 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?

Name: On January 1, 2022, Twice Inc. has an inventory account has a balance
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Description: On January 1, 2022, Twice Inc. has an inventory account has a balance of P450,000. During the year, Twice Inc. purchased P2,950,000 additional merchandise. On December 31, 2022, the inventory was counted and determined to have a balance of P925,000.

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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