FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Chapter 6, Problem 6.2IE
To determine

Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times a company sells or uses its inventory during an accounting period. It is calculated by using the following formula:

Inventory turnover = Cost of goods soldAverage inventory

To Discuss: The effect of the differences in inventory accounting between IFRS and GAAP on inventory turnover ratio of the Company L using IFRS and the company using GAAP.

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FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE

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