Suppose this information in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method Beginning inventory Ending inventory LIFO reserve Current assets Current liabilities Cost of goods sold Sales revenue (a) Inventory turnover $12.870 Days in inventory 15,760 1,406 62.567 Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, eg. 5.1) 70,300 160,328 181,360 times days

Suppose this information in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method Beginning inventory Ending inventory LIFO reserve Current assets Current liabilities Cost of goods sold Sales revenue (a) Inventory turnover $12.870 Days in inventory 15,760 1,406 62.567 Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, eg. 5.1) 70,300 160,328 181,360 times days

Name: Suppose this information (in millions) is available for the Automotiv
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Description: Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporationfor a recent year, General Motors uses the LIFO inventory method.Beginning inventoryEnding inventoryLIFO reserveCurren

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 27CE: Inventory Analysis Singleton Inc. reported the following information for the current year: Required:...

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