a. ABC reports annual sales of $ 5 million, annual cost of goods sold is $ 2 million. Inventory is $ 0.5 millionand net income is $0.75 million. What is ABC 's annual inventory turns ? Show all formulas used,calculations and results. Do on Canvasb. XYZ reports annual sales of $ 5 million, annual cost of goods sold of $ 3 million, inventory of $ 0.5 millionand net income of $ 0.75 million. What is the months of supply of inventory ? Show all formulas used,calculations and results.

Answered: Image /qna-images/answer/fcb649b0-1c78-464e-84ff-9c0a5b005df9.jpg

Answered: a. ABC reports annual sales of $ 5…

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section15.8B: Financial Ratios

Problem 1CC

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