QS 13-12 (Algo) Computing inventory turnover and days' sales in inventory LO P3 SCC Company reported the following for the current year: Net sales Cost of goods sold Beginning balance in inventory Ending balance in inventory $ 52,000 45,900 2,400 8,400 Compute (a) inventory turnover and (b) days' sales in inventory. Hint. Inventory turnover uses average inventory and days' sales in inventory uses the ending balance in inventory. Complete this question by entering your answers in the tabs below. Inventory Turnover Days Sales In Inventory Compute the inventory turnover. Inventory Turnover Numerator: Denominator: Inventory Turnover Inventory turnover %3D times < Inventory Tumover Days Sales In Inventory >

QS 13-12 (Algo) Computing inventory turnover and days' sales in inventory LO P3 SCC Company reported the following for the current year: Net sales Cost of goods sold Beginning balance in inventory Ending balance in inventory $ 52,000 45,900 2,400 8,400 Compute (a) inventory turnover and (b) days' sales in inventory. Hint. Inventory turnover uses average inventory and days' sales in inventory uses the ending balance in inventory. Complete this question by entering your answers in the tabs below. Inventory Turnover Days Sales In Inventory Compute the inventory turnover. Inventory Turnover Numerator: Denominator: Inventory Turnover Inventory turnover %3D times < Inventory Tumover Days Sales In Inventory >

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Description: QS 13-12 (Algo) Computing inventory turnover and days' sales in inventory LO P3SCC Company reported the following for the current year:Net sales$ 52,000Cost of goods soldBeginning balance in inventoryEnding balance in inventory45,9002,4008,400Comput

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4PA: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering...

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Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of goods sold on October 29, and (c) the inventory on October 31.
Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of the merchandise sold on October 29, and (c) the inventory on October 31.
Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
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