QUESTION 12 Annual data for ABC Corporation appear below, in millions of US dollars: 2016 2017 2018 2019 Sales Revenue 126.1 131.3 144.5 150.4 Cost of Goods Sold 45.3 50.8 54.6 55.3 Operating Income Ending Inventory Ending Accounts Payable 18.8 21.1 20.9 23.3 9.6 10.2 10.8 9.6 10.2 8.8 9.5 10.2 Calculate ABC's inventory turnover ratio for 2017. Round your answer to 1 decimal place (xx.x).

QUESTION 12 Annual data for ABC Corporation appear below, in millions of US dollars: 2016 2017 2018 2019 Sales Revenue 126.1 131.3 144.5 150.4 Cost of Goods Sold 45.3 50.8 54.6 55.3 Operating Income Ending Inventory Ending Accounts Payable 18.8 21.1 20.9 23.3 9.6 10.2 10.8 9.6 10.2 8.8 9.5 10.2 Calculate ABC's inventory turnover ratio for 2017. Round your answer to 1 decimal place (xx.x).

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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