Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Inventory analysis
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Inventory Analysis
A company reports the following:
Cost of goods sold
$357,335
Average inventory
64,970
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to
one decimal place. Assume 365 days a year.
a. Inventory turnover
days
b. Number of days' sales in inventory
Next
Q
Transcribed Image Text:okmarks Window Help 2 Mon Jun 13 9:34 learn snhu edu O 00 v2.cengagenow.com rh +88 ng and learning resource from Cengage Learning C Current Position Analysis The Following Items Are... | Chegg.com eBook Show Me How Inventory Analysis A company reports the following: Cost of goods sold $357,335 Average inventory 64,970 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover days b. Number of days' sales in inventory Next Q
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