The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, ofwhich P31,200 in credit. Bulldogs inventory turnover ratio for the year wasMr. Dog, the controller, had gathered the following accounting data regarding Bulldogs Inc.Beginning of the yearEnd of the yearAccounts receivableP1,070P1,530Inventory3,2003,800Accounts payable1,6601,840

Introduction: Inventory turnover ratio: Division of Average inventory with cost of goods sold…

Answered: The cost of goods sold was computed at…

The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, of which P31,200 in credit. Bulldogs inventory turnover ratio for the year was E ▼

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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Question

The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, of
which P31,200 in credit. Bulldogs inventory turnover ratio for the year was
Mr. Dog, the controller, had gathered the following accounting data regarding Bulldogs Inc.
Beginning of the year
End of the year
Accounts receivable
P1,070
P1,530
Inventory
3,200
3,800
Accounts payable
1,660
1,840

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