The following data were taken from the income statements of Cullumber Company. 2022 2021 Sales revenue $6,420,000 $6,271,000 Beginning inventory 942,400 840,500 Purchases 4,836,000 4,691,000 Ending inventory 1,174,000 942,400 Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2022 2021 Inventory turnover Enter inventory turnover in times rounded to 1 decimal place times Enter inventory turnover in times rounded to 1 decimal place times Compute days in inventory for each year. (Round answers to 0 decimal places, e.g. 124. Use 365 days for calculation.) 2022 2021 Days in inventory Enter days in inventory rounded to 0 decimal places days Enter days in inventory rounded to 0 decimal places
The following data were taken from the income statements of Cullumber Company. 2022 2021 Sales revenue $6,420,000 $6,271,000 Beginning inventory 942,400 840,500 Purchases 4,836,000 4,691,000 Ending inventory 1,174,000 942,400 Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2022 2021 Inventory turnover Enter inventory turnover in times rounded to 1 decimal place times Enter inventory turnover in times rounded to 1 decimal place times Compute days in inventory for each year. (Round answers to 0 decimal places, e.g. 124. Use 365 days for calculation.) 2022 2021 Days in inventory Enter days in inventory rounded to 0 decimal places days Enter days in inventory rounded to 0 decimal places
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following data were taken from the income statements of Cullumber Company.
|
2022
|
2021
|
|||
|---|---|---|---|---|
|
Sales revenue
|
$6,420,000 | $6,271,000 | ||
|
Beginning inventory
|
942,400 | 840,500 | ||
|
Purchases
|
4,836,000 | 4,691,000 | ||
|
Ending inventory
|
1,174,000 | 942,400 |
Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.)
|
2022
|
2021
|
|||||
|---|---|---|---|---|---|---|
|
Inventory turnover
|
Enter inventory turnover in times rounded to 1 decimal place
|
times |
Enter inventory turnover in times rounded to 1 decimal place
|
times |
Compute days in inventory for each year. (Round answers to 0 decimal places, e.g. 124. Use 365 days for calculation.)
|
2022
|
2021
|
||||
|---|---|---|---|---|---|
|
Days in inventory
|
Enter days in inventory rounded to 0 decimal places
|
days |
Enter days in inventory rounded to 0 decimal places
|
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