Selected information from the operating records of Kay Company is as follows: Net sales P 1,800,000 Cost of goods sold for 2012 1,280,000 Inventory at 12/31/11 360,000 Inventory at 12/31/12 312,000 Kay’s inventory turnover for 2012 is a. 3.57 times b. 3.85 times c. 5.36 times

Selected information from the operating records of Kay Company is as follows: Net sales P 1,800,000 Cost of goods sold for 2012 1,280,000 Inventory at 12/31/11 360,000 Inventory at 12/31/12 312,000 Kay’s inventory turnover for 2012 is a. 3.57 times b. 3.85 times c. 5.36 times

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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