FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The cost of goods sold computations for Bridgeport Company and Sarasota Company are shown below.
Beginning inventory
Cost of goods purchased
Cost of goods available for sale
Ending inventory
Cost of goods sold
Inventory turnover
Bridgeport Company
$49,500
193,500
Days in inventory
243.000
56,500
$186,500
Compute inventory turnover for each company. (Round answers to 2 decimal places, eg. 15.25)
here to search
Bridgeport Company
Sarasota Company
$72.500
291.500
Compute days in inventory for each company. (Round answers to 0 decimal places, eg. 1.250. Use 365 days for calculation)
Bridgeport Company
days
364.000
74,000
$290,000
Sarasota Company
10
Sarasota Company
days
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Transcribed Image Text:The cost of goods sold computations for Bridgeport Company and Sarasota Company are shown below. Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Inventory turnover Bridgeport Company $49,500 193,500 Days in inventory 243.000 56,500 $186,500 Compute inventory turnover for each company. (Round answers to 2 decimal places, eg. 15.25) here to search Bridgeport Company Sarasota Company $72.500 291.500 Compute days in inventory for each company. (Round answers to 0 decimal places, eg. 1.250. Use 365 days for calculation) Bridgeport Company days 364.000 74,000 $290,000 Sarasota Company 10 Sarasota Company days
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