A company reports the following:Cost of goods sold $660,000Average inventory 60,000Determine (a) the inventory turnover and (b) the number of days’ sales in inventory. Round to one decimal place.
A company reports the following:Cost of goods sold $660,000Average inventory 60,000Determine (a) the inventory turnover and (b) the number of days’ sales in inventory. Round to one decimal place.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 5BE
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A company reports the following:
Cost of goods sold $660,000
Average inventory 60,000
Determine (a) the inventory turnover and (b) the number of days’ sales in inventory. Round to one decimal place.
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