Use the following information for Shafer Company to compute inventory turnover for year 2. Year 2 Year 1 Net sales $657,500 $584,900 Cost of goods sold Ending inventory 390,500 361,840 79,700 81, 380 Multiple Choice 4.00 4.85 8.25 5.85

Use the following information for Shafer Company to compute inventory turnover for year 2. Year 2 Year 1 Net sales $657,500 $584,900 Cost of goods sold Ending inventory 390,500 361,840 79,700 81, 380 Multiple Choice 4.00 4.85 8.25 5.85

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Use the following information for Shafer Company to compute inventory turnover for year 2.
Year 2
Year 1
Net sales
$657,500 $584,900
Cost of goods sold
Ending inventory
390,500
361,040
79,700
81,380
Multiple Choice
4.00
4.85
8.25
5.85
7.19
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