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New Hope reported the following income statement for the year ended December 31, 2025: (Click the icon to view the income statement.) Requirements 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Hope's days' sales in inventory for the year. (Round to two decimal places.)

New Hope reported the following income statement for the year ended December 31, 2025: (Click the icon to view the income statement.) Requirements 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Hope's days' sales in inventory for the year. (Round to two decimal places.)

Financial Accounting
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 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...
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Two similar questions, I am aware of bartleby's policy thats why i only attached two vry simple and similar questions, if you still deicde to only solve one, atleast please show your work so i can complete the other problem on my own.

 

Or solve both problems

New Hope reported the following income statement for the year ended December 31, 2025: (Click the icon to view the income statement.) Requirements 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) Compute New Hope's days' sales in inventory for the year. (Round to two decimal places.) 2. Requirement 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover rate. (Round your answer to two decimal places, X.XX.) = Inventory turnover times Data table New Hope Income Statement Year Ended December 31, 2025 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income Print $ 8,400 76,000 Done 84,400 13,800 $ 148,000 70,600 77,400 52,000 $ 25,400
Transcribed Image Text:New Hope reported the following income statement for the year ended December 31, 2025: (Click the icon to view the income statement.) Requirements 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) Compute New Hope's days' sales in inventory for the year. (Round to two decimal places.) 2. Requirement 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover rate. (Round your answer to two decimal places, X.XX.) = Inventory turnover times Data table New Hope Income Statement Year Ended December 31, 2025 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income Print $ 8,400 76,000 Done 84,400 13,800 $ 148,000 70,600 77,400 52,000 $ 25,400
Broadway Communications reported the following figures in its annual financial statements: (Click the icon to view the figures.) Compute the rate of inventory turnover and days' sales in inventory for Broadway Communications. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover. (Enter the amount for average inventory to one decimal place, X.X. Round your answer to two decimal places, X.XX.) Inventory turnover times Data table Cost of Goods Sold Beginning Merchandise Inventory Ending Merchandise Inventory Print Done $ 18,500 540 400 X C =
Transcribed Image Text:Broadway Communications reported the following figures in its annual financial statements: (Click the icon to view the figures.) Compute the rate of inventory turnover and days' sales in inventory for Broadway Communications. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover. (Enter the amount for average inventory to one decimal place, X.X. Round your answer to two decimal places, X.XX.) Inventory turnover times Data table Cost of Goods Sold Beginning Merchandise Inventory Ending Merchandise Inventory Print Done $ 18,500 540 400 X C =
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