QS 1-21 (Algo) Computing inventory ratios LO A1Sims company reports beginning raw materials inventory of $1,600 and ending raw materials inventory of $2,400. Assume thecompany purchased $16,800 of raw materials and used $16,000 of raw materials during the year. Compute raw materials inventoryturnover and the number of days' sales in raw materials inventory.Complete this question by entering your answers in the tabs below.Raw Materials Days Sales InRaw MaterialsInventoryInventoryturnoverCompute the number of days' sales in raw materials inventory.Numerator:Days' Sales In Raw Materials InventoryDenominator:10 QS 1-21 (Algo) Computing inventory ratios LO A1Sims company reports beginning raw materials inventory of $1,600 and ending raw materials inventory of $2,400. Assume thecompany purchased $16,800 of raw materials and used $16,000 of raw materials during the year. Compute raw materials inventoryturnover and the number of days' sales in raw materials inventory.Complete this question by entering your answers in the tabs below.Raw Materials Days Sales InInventoryRaw MaterialsturnoverInventoryCompute raw materials inventory turnover.Numerator:111Raw Materials Inventory turnoverDenominator:Cew Materiala wwwntory turnoverRaw Materials Inventory turnoverRaw materials inventory turnoverDays Sales In Raw Materials Inventory >0

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Description: QS 1-21 (Algo) Computing inventory ratios LO A1Sims company reports beginning raw materials inventory of $1,600 and ending raw materials inventory of $2,400. Assume thecompany purchased $16,800 of raw materials and used $16,000 of raw materials duri

Answer : Raw material inventory turnover = Raw material used / Average raw material inventory Raw…

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Accounting

pany reports beginning raw materials inventory of $1,600 and en purchased $16,800 of raw materials and used $16,000 of raw ma and the number of days' sales in raw materials inventory. ete this question by entering your answers in the tabs below. arials Days Sales In ory Raw Materials Inventory er e the number of days' sales in raw materials inventory.

pany reports beginning raw materials inventory of $1,600 and en purchased $16,800 of raw materials and used $16,000 of raw ma and the number of days' sales in raw materials inventory. ete this question by entering your answers in the tabs below. arials Days Sales In ory Raw Materials Inventory er e the number of days' sales in raw materials inventory.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 58E: Analyzing Inventory The recent financial statements of McLelland Clothing Inc. include the following...

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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QS 1-21 (Algo) Computing inventory ratios LO A1
Sims company reports beginning raw materials inventory of $1,600 and ending raw materials inventory of $2,400. Assume the
company purchased $16,800 of raw materials and used $16,000 of raw materials during the year. Compute raw materials inventory
turnover and the number of days' sales in raw materials inventory.
Complete this question by entering your answers in the tabs below.
Raw Materials Days Sales In
Raw Materials
Inventory
Inventory
turnover
Compute the number of days' sales in raw materials inventory.
Numerator:
Days' Sales In Raw Materials Inventory
Denominator:
1
<Raw Materials Inventory turnover
Days
Days' Sales In Raw
Materials Inventory
Days' sales in raw materials
inventory
Days Sales in Raw Materials inventary >
0

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