PA16. LO 10.5 Use the following information relating to Clover Company to calculate the inventory turnov ratio, gross margin, and the number of days' sales in inventory ratio, for years 2022 and 2023. Sales Cost of Goods Sold Average Inventory $250,000 295,000 323,000 $187,500 221,250 242,250 $24,000 30,000 35,000 Year 2021 Year 2022 Year 2023

PA16. LO 10.5 Use the following information relating to Clover Company to calculate the inventory turnov ratio, gross margin, and the number of days' sales in inventory ratio, for years 2022 and 2023. Sales Cost of Goods Sold Average Inventory $250,000 295,000 323,000 $187,500 221,250 242,250 $24,000 30,000 35,000 Year 2021 Year 2022 Year 2023

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 16PA: Use the following information relating to Clover Company to calculate the inventory turnover ratio,...

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