The following is information for Palmer Company. Year 3 $ 583,825 102,400 Cost of goods sold Ending inventory Year 2 $ 366,650 92,750 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 31 and Year 2. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in inventory? Inventory tumover Days' sales in inventory Year 1 $ 331,300 97,500 Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Numerator Denominator Ratio Inventory turnover Days' sales in inventory 0 0 Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Numerator Denominator 0 0 Ratio Did Palmer improve its (a) inventory turnover from Year 2 to Year 3 and (b) days' sales in inventory from Year 2 to Year 3? (a) Did Palmer improve its inventory turnover from Year 2 to Year 37 (b) Did Palmer improve its days' sales in inventory from Year 2 to Year 3?

The following is information for Palmer Company. Year 3 $ 583,825 102,400 Cost of goods sold Ending inventory Year 2 $ 366,650 92,750 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 31 and Year 2. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in inventory? Inventory tumover Days' sales in inventory Year 1 $ 331,300 97,500 Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Numerator Denominator Ratio Inventory turnover Days' sales in inventory 0 0 Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Numerator Denominator 0 0 Ratio Did Palmer improve its (a) inventory turnover from Year 2 to Year 3 and (b) days' sales in inventory from Year 2 to Year 3? (a) Did Palmer improve its inventory turnover from Year 2 to Year 37 (b) Did Palmer improve its days' sales in inventory from Year 2 to Year 3?

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Description: Please do not give solution in image format thanku The following is information for Palmer Company.Year 3$ 583,825102,400Cost of goods soldEnding inventoryYear 2$366,65092,750Use the above information to compute inventory turnover for Year 3 and Year

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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