Answered: A company had net sales of $346,000.…

A company had net sales of $346,000. The beginning inventory at retail was $130,000 and the ending inventory was $159,000. Find the turnover rate at retail.

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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Question

A company had net sales of

$346,000.

The beginning inventory at retail was

$130,000

and the ending inventory was

$159,000.

Find the turnover rate at retail.

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