Inventory Turnover Days Sales In Inventory Compute the days' sales in inventory. Numerator: Average inventory Cost of goods sold Ending inventory Net sales Days' Sales In Inventory. Denominator: x Days = Days' Sales In Inventory = Days' sales in inventory = days < Inventory Turnover 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 $ 73,000 58,500 3,500 9,500 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 inventory turnover. Numerator: Average inventory Cost of goods sold Ending inventory Net sales Inventory Turnover Denominator: = Inventory Turnover = Inventory turnover = times < Inventory Turnover Days Sales In Inventory >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Inventory
Turnover
Days Sales In
Inventory
Compute the days' sales in inventory.
Numerator:
Average inventory
Cost of goods sold
Ending inventory
Net sales
Days' Sales In Inventory.
Denominator:
x
Days
=
Days' Sales In Inventory
=
Days' sales in inventory
=
days
< Inventory Turnover
Days Sales In Inventory >
Transcribed Image Text:Inventory Turnover Days Sales In Inventory Compute the days' sales in inventory. Numerator: Average inventory Cost of goods sold Ending inventory Net sales Days' Sales In Inventory. Denominator: x Days = Days' Sales In Inventory = Days' sales in inventory = days < Inventory Turnover 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
$ 73,000
58,500
3,500
9,500
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 inventory turnover.
Numerator:
Average inventory
Cost of goods sold
Ending inventory
Net sales
Inventory Turnover
Denominator:
=
Inventory Turnover
=
Inventory turnover
=
times
< Inventory Turnover
Days Sales In Inventory >
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 $ 73,000 58,500 3,500 9,500 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 inventory turnover. Numerator: Average inventory Cost of goods sold Ending inventory Net sales Inventory Turnover Denominator: = Inventory Turnover = Inventory turnover = times < Inventory Turnover Days Sales In Inventory >
Expert Solution
steps

Step by step

Solved in 1 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education