SCC Company reported the following for the current year: $ 56,000 47,560 2,800 8,800 Net sales Cost of goods sold Beginning balance in inventory Ending balance in inventory 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 Days Sales In Turnover Inventory Compute the days' sales in inventory. Numerator: Days Sales In Inventory Denominator: Inventory Turnover x * Days R P Days' Sales In Inventory Days' sales in inventory days Days Sales in
SCC Company reported the following for the current year: $ 56,000 47,560 2,800 8,800 Net sales Cost of goods sold Beginning balance in inventory Ending balance in inventory 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 Days Sales In Turnover Inventory Compute the days' sales in inventory. Numerator: Days Sales In Inventory Denominator: Inventory Turnover x * Days R P Days' Sales In Inventory Days' sales in inventory days Days Sales in
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...
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Rr.2.
![SCC Company reported the following for the current year:
Net sales
$ 56,000
Cost of goods sold
47,560
2,800
8,800
Beginning balance in inventory
Ending balance in inventory
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.
Days Sales In
Inventory
Compute the days' sales in inventory.
Inventory
Turnover
Numerator:
1
Days Sales In Inventory
Denominator:
Inventory Turnover
x
X
Days
M
R
=
Days' Sales In Inventory
Days' sales in inventory
days
Days Sales In Inventory](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffb6d72a6-8974-4bfb-9c04-cc9e9e396429%2F318dca89-5472-435f-8428-2fc4d6507223%2Fdq8lsib_processed.jpeg&w=3840&q=75)
Transcribed Image Text:SCC Company reported the following for the current year:
Net sales
$ 56,000
Cost of goods sold
47,560
2,800
8,800
Beginning balance in inventory
Ending balance in inventory
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.
Days Sales In
Inventory
Compute the days' sales in inventory.
Inventory
Turnover
Numerator:
1
Days Sales In Inventory
Denominator:
Inventory Turnover
x
X
Days
M
R
=
Days' Sales In Inventory
Days' sales in inventory
days
Days Sales In Inventory
![SCC Company reported the following for the current year:
Net sales
Cost of goods sold
Beginning balance in inventory
Ending balance in inventory
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 Days Sales In
Turnover
Inventory
$ 56,000
47,560
2,800
8,800
Compute the inventory turnover.
Numerator:
Inventory Turnover
Denominator:
Yumover
H
=
Inventory Turnover
Inventory turnover
times
Days Sales In Inventory >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffb6d72a6-8974-4bfb-9c04-cc9e9e396429%2F318dca89-5472-435f-8428-2fc4d6507223%2Fz0o1vu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:SCC Company reported the following for the current year:
Net sales
Cost of goods sold
Beginning balance in inventory
Ending balance in inventory
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 Days Sales In
Turnover
Inventory
$ 56,000
47,560
2,800
8,800
Compute the inventory turnover.
Numerator:
Inventory Turnover
Denominator:
Yumover
H
=
Inventory Turnover
Inventory turnover
times
Days Sales In Inventory >
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