Inventory Analysis A company reports the following: Cost of goods sold $515,015 Average inventory 60,590 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

Inventory Analysis A company reports the following: Cost of goods sold $515,015 Average inventory 60,590 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

Name: Inventory AnalysisA company reports the following:Cost of goods sold$
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Description: Inventory AnalysisA company reports the following:Cost of goods sold$515,015Average inventory60,590Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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