What would be the Average Inventory? Part BSelected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow.Beginning inventory, January 1Cost of goods soldEnding inventory, March 31Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022.Complete this question by entering your answers in the tabs below.Part APart BCompute inventory turnover and days' sales in inventory for the three months ended March 31, 2022.Inventory Turnover1 Choose Denominator:Average inventoryChoose Numerator:Cost of goods sold$Ending inventory$14,052 /Choose Numerator:14,052704704 / $Days' Sales in Inventory1 Choose Denominator:/Cost of goods sold14,052====Inventory TurnoverInventory Turnover0Ratio0.1 days

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Description: What would be the Average Inventory? Part BSelected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow.Beginning inventory, January 1Cost of goods soldEnding inventory, March 31Compute inventory turnover an

Average inventory =( Opening inventory + Closing inventory )/2 =…

Business

Accounting

Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Inventory Turnover Choose Numerator: ost of goods sold $ 1 Choose Denominator: /Average inventory 14,052 / = = = Inventory Turnover Inventory Turnover

Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Inventory Turnover Choose Numerator: ost of goods sold $ 1 Choose Denominator: /Average inventory 14,052 / = = = Inventory Turnover Inventory Turnover

Financial Accounting

15th Edition

ISBN:9781337272124

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

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

Chapter7: Inventories

Section: Chapter Questions

Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...

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