### QUESTION 26**Use these figures to answer questions 26-29**Wickes Ltd has the following figures at December 2020:| Description | Amount (£) ||---------------------------------------------|-------------|| **Revenue (90% credit sales)** | 1,936,000 || **Opening Inventory** | 145,550 || **Purchases (80% on credit)** | 1,042,255 || **Trade Receivables** | 237,810 || **Provision for doubtful debts** | 11,325 || **Trade payables** | 160,479 || **Closing Inventory** | 160,370 |### Prompt:Calculate the inventory turnover for Wickes Ltd for 2020.

Ratio analysis is a type of technique that is used by the users of the financial statement to gain…

Use these figues to answer questions 26-29 Wickes Ltd has the following figures at December 2020 Revenue(90% credit sales) 1,936,000 Opening Inventory Purchases-(80% on credit) 1,042,255 Trade Receivables Provision for doubtul debts 11,325 Trade payables Closing Inventory 145,550 237,810 160,479 160,370 Calculate the Inventory turnover for Wickes Ltd for 2020

Use these figues to answer questions 26-29 Wickes Ltd has the following figures at December 2020 Revenue(90% credit sales) 1,936,000 Opening Inventory Purchases-(80% on credit) 1,042,255 Trade Receivables Provision for doubtul debts 11,325 Trade payables Closing Inventory 145,550 237,810 160,479 160,370 Calculate the Inventory turnover for Wickes Ltd for 2020

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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Subject: accounting