Selected XYZ financials (in dollars) Gross income 25,240,000 24,324,000 18,785,000 2,975,000 12,600,000 Total Sales Total Credit Sales, Net Income Cost of Goods Sold 10,550,000 2,875,000 3,445,000 Total Assets Average Inventory Average Accounts receivable What is the inventory turover ratio for Firm XYZ. (round to 3 decimals)
Selected XYZ financials (in dollars) Gross income 25,240,000 24,324,000 18,785,000 2,975,000 12,600,000 Total Sales Total Credit Sales, Net Income Cost of Goods Sold 10,550,000 2,875,000 3,445,000 Total Assets Average Inventory Average Accounts receivable What is the inventory turover ratio for Firm XYZ. (round to 3 decimals)
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 5MC
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Question
![Selected XYZ financials (in dollars)
25,240,000
24,324,000
18,785,000
2,975,000
12,600,000
10,550,000
2,875,000
3,445,000
Gross income
Total Sales
Total Credit Sales,
Net Income
Cost of Goods Sold
Total Assets
Average Inventory
Average Accounts receivable
What is the inventory turover ratio for Firm XYZ. (round to 3 decimals)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F89c32b80-ffc4-4f6b-ac6e-43ff3ad5ad63%2F8dd89fa6-4e4b-4594-be91-5c261de8e174%2F6wl5x7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Selected XYZ financials (in dollars)
25,240,000
24,324,000
18,785,000
2,975,000
12,600,000
10,550,000
2,875,000
3,445,000
Gross income
Total Sales
Total Credit Sales,
Net Income
Cost of Goods Sold
Total Assets
Average Inventory
Average Accounts receivable
What is the inventory turover ratio for Firm XYZ. (round to 3 decimals)
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