FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in inventory?
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Transcribed Image Text:ABC Inc. provided the following data for the current year: Cost of goods sold $4,680,000 Inventory at the beginning of the year 678,000 Inventory at the end of the year 570,000 What is ABC Inc.'s days' sales in inventory?
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Step 1: Introduce to days sales in inventory
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Step 2: Working for average inventory
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Step 3: Working for inventory turnover ratio
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Step 4: Working for days sales in inventory
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