FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following data were taken from the financial records of Sunland Company.
Net Sales
Beginning inventory
Purchases
Ending inventory
(a1)
2022
$6,480,000
Inventory turnover
1,000,000
4,363,000
1,020,000
Your answer is incorrect.
2021
2022
$6,250,000
850,000
4,590,000
Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)
1,000,000
times
2021
times
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Transcribed Image Text:The following data were taken from the financial records of Sunland Company. Net Sales Beginning inventory Purchases Ending inventory (a1) 2022 $6,480,000 Inventory turnover 1,000,000 4,363,000 1,020,000 Your answer is incorrect. 2021 2022 $6,250,000 850,000 4,590,000 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 1,000,000 times 2021 times
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