**Inventory Management Calculations**Use the following information to complete the calculations below.**Cost of Goods Sold:** $195,640**Inventory:**- **Beginning of the Year:** 20,500- **End of the Year:** 18,628**a. Compute Inventory Turnover:**[Input Box]**b. Compute Average Daily Cost of Goods Sold Using a 365 Day Year:**$ [Input Box]**c. Compute Number of Days' Sales in Inventory. Round Your Answer to One Decimal Place:**[Input Box] days

Inventory is one of the essential parts of an organisation. In the balance sheet, it is classified…

Use the following information to complete the calculations below. Cost of goods sold $195,640 Inventory: Beginning of year 20,500 End of year 18,628 a. Compute inventory turnover. b. Compute average daily cost of goods sold using a 365 day year. c. Compute number of days' sales in inventory. Round your answer to one decimal plac days

Use the following information to complete the calculations below. Cost of goods sold $195,640 Inventory: Beginning of year 20,500 End of year 18,628 a. Compute inventory turnover. b. Compute average daily cost of goods sold using a 365 day year. c. Compute number of days' sales in inventory. Round your answer to one decimal plac days

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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