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On January 1, 2016, the Wind Company’s beginning inventory P400,000. During 2016, Wind purchased P1,900,000 of additional inventory. On December 31, 2016, Wind'ss ending inventory was P500,000. What is (A) the inventory turnover and (B) the age of inventory for 2016?  choose the bullet with correct answer (A) 1 times and (B) 50.2 days (A) 2 times and (B) 71.5 days (A) 3 times and (B) 82.2 days (A) 4 times and (B) 91.3 days ((A) 5 times and (B) 103.1 days

On January 1, 2016, the Wind Company’s beginning inventory P400,000. During 2016, Wind purchased P1,900,000 of additional inventory. On December 31, 2016, Wind'ss ending inventory was P500,000. What is (A) the inventory turnover and (B) the age of inventory for 2016?  choose the bullet with correct answer (A) 1 times and (B) 50.2 days (A) 2 times and (B) 71.5 days (A) 3 times and (B) 82.2 days (A) 4 times and (B) 91.3 days ((A) 5 times and (B) 103.1 days

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 13PA: Company Elmira reported the following cost of goods sold but later realized that an error had been...
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On January 1, 2016, the Wind Company’s beginning inventory P400,000. During 2016, Wind purchased P1,900,000 of additional inventory. On December 31, 2016, Wind'ss ending inventory was P500,000. What is (A) the inventory turnover and (B) the age of inventory for 2016? 

choose the bullet with correct answer

  • (A) 1 times and (B) 50.2 days
  • (A) 2 times and (B) 71.5 days
  • (A) 3 times and (B) 82.2 days
  • (A) 4 times and (B) 91.3 days
  • ((A) 5 times and (B) 103.1 days
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