A company reports the following: Cost of goods sold $478,150 Average inventory 95,630 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to t answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days

A company reports the following: Cost of goods sold $478,150 Average inventory 95,630 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to t 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$478,150Average inventory95,630Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and finalanswers

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 5PEA

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