Wickes Ltd has the following figures at December 2020 £ Revenue(90% credit sales) 1,936,000 Opening Inventory 145,550 Purchases-(80% on credit) 1,042,255 Trade Receivables 237,810 Provision for doubtul debts 11,325 Trade payables 160,479 Closing Inventory 160,370 Calculate the inventory turnover for Wickes Ltd for 2020
Wickes Ltd has the following figures at December 2020 £ Revenue(90% credit sales) 1,936,000 Opening Inventory 145,550 Purchases-(80% on credit) 1,042,255 Trade Receivables 237,810 Provision for doubtul debts 11,325 Trade payables 160,479 Closing Inventory 160,370 Calculate the inventory turnover for Wickes Ltd for 2020
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 4MC
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Wickes Ltd has the following figures at December 2020
£
Revenue(90% credit sales) 1,936,000
Opening Inventory 145,550
Purchases-(80% on credit) 1,042,255
Trade Receivables 237,810
Provision for doubtul debts 11,325
Trade payables 160,479
Closing Inventory 160,370
Calculate the inventory turnover for Wickes Ltd for 2020
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