A manufacturing company reports the following information. Current Year $ 169,500 2,160,000 Raw materials inventory, ending Raw materials used 1 Year Ago $ 190,500 2,522,000 Required: 1. Compute raw materials inventory turnover for the most recent two years. 2. Is the current year change in raw materials inventory turnover ratio favorable or unfavorable? 3. Compute days' sales in raw materials inventory for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute raw materials inventory turnover for the most recent two years. Current year 1 Year Ago Raw materials inventory turnover 2 Years Ago $ 197,500 2,765,000
A manufacturing company reports the following information. Current Year $ 169,500 2,160,000 Raw materials inventory, ending Raw materials used 1 Year Ago $ 190,500 2,522,000 Required: 1. Compute raw materials inventory turnover for the most recent two years. 2. Is the current year change in raw materials inventory turnover ratio favorable or unfavorable? 3. Compute days' sales in raw materials inventory for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute raw materials inventory turnover for the most recent two years. Current year 1 Year Ago Raw materials inventory turnover 2 Years Ago $ 197,500 2,765,000
Financial & Managerial Accounting
14th Edition
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.35EX
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