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).

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.2MBA: Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on...

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