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 4PEB: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...
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