During 2013, Rand Co. purchased P960,000 of inventory. The cost of goods sold for 2013 was P900,000, and the ending inventory at December 31, 2013 was P180,000. What was the inventory turnover for 2013? O 6.4 times O 6 times O 4 times 5 times

During 2013, Rand Co. purchased P960,000 of inventory. The cost of goods sold for 2013 was P900,000, and the ending inventory at December 31, 2013 was P180,000. What was the inventory turnover for 2013? O 6.4 times O 6 times O 4 times 5 times

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Description: During 2013, Rand Co. purchased P960,000 of inventory. The cost of goods soldfor 2013 was P900,000, and the ending inventory at December 31, 2013 wasP180,000. What was the inventory turnover for 2013?O 6.4 timesO 6 times4 timesO 5 times

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 15EA: Shetland Company reported net income on the year-end financial statements of $125,000. However,...

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