Problem 7-9: The Hyndland Corporation The following information was available for the Hyndland Corporation on December 31, 2021: Year 2019 2020 2021 Cost of Goods Sold 6000 1200 2400 Inventory 990 300 500 Required: 1. Calculate Inventory Turnover in 2021 (round to 2 decimal places). 2. Calculate the average days of inventory on hand in 2020. Assume a 365 day year and round all results to the nearest day. 3. Calculate the average days of inventory on hand 2021. Assume a 365 day year and round all results to the nearest day. Upon completion, enter your answers below (2 decimal places): Inventory Turnover (2021): Days Inventory on Hand (2020): Days Inventory on Hand (2021):

Problem 7-9: The Hyndland Corporation The following information was available for the Hyndland Corporation on December 31, 2021: Year 2019 2020 2021 Cost of Goods Sold 6000 1200 2400 Inventory 990 300 500 Required: 1. Calculate Inventory Turnover in 2021 (round to 2 decimal places). 2. Calculate the average days of inventory on hand in 2020. Assume a 365 day year and round all results to the nearest day. 3. Calculate the average days of inventory on hand 2021. Assume a 365 day year and round all results to the nearest day. Upon completion, enter your answers below (2 decimal places): Inventory Turnover (2021): Days Inventory on Hand (2020): Days Inventory on Hand (2021):

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Description: Problem 7-9: The Hyndland CorporationThe following information was available for the Hyndland Corporation on December 31, 2021:Year201920202021Cost of Goods Sold600012002400Inventory990300500Required:1. Calculate Inventory Turnover in 2021 (round to

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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