The following data were taken from the financial records of Crane Company. Net Sales Beginning inventory Purchases Ending inventory (a1) 2022 Inventory turnover $6,450,000 915,000 4,328,250 1,040,000 2021 2022 $6,230,000 900,000 4,643,250 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 915,000 times 2021 times

The following data were taken from the financial records of Crane Company. Net Sales Beginning inventory Purchases Ending inventory (a1) 2022 Inventory turnover $6,450,000 915,000 4,328,250 1,040,000 2021 2022 $6,230,000 900,000 4,643,250 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 915,000 times 2021 times

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Description: The following data were taken from the financial records of Crane Company.Net SalesBeginning inventoryPurchasesEnding inventory(a1)2022Inventory turnover$6,450,000915,0004,328,2501,040,00020212022$6,230,000900,0004,643,250Compute for each year the i

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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