Pls answer the all questions with solutions 12 – 13. Wins Department Store had net credit sales of P16,000,000 and cost of goods sold of P12,000,000 for the year. The average inventory for the year amounted to P2,000,000. 12. Inventory turnover for the year is a. 8 times. b. 14 times. c. 6 times. d. 4 times. 13. The average days in inventory during the year was a. 91 days. b. 61 days. c. 46 days. d. 26 days.
Pls answer the all questions with solutions 12 – 13. Wins Department Store had net credit sales of P16,000,000 and cost of goods sold of P12,000,000 for the year. The average inventory for the year amounted to P2,000,000. 12. Inventory turnover for the year is a. 8 times. b. 14 times. c. 6 times. d. 4 times. 13. The average days in inventory during the year was a. 91 days. b. 61 days. c. 46 days. d. 26 days.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.15E
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Pls answer the all questions with solutions
12 – 13. Wins Department Store had net credit sales of P16,000,000 and cost of goods sold of P12,000,000 for the year. The average inventory for the year amounted to P2,000,000.
12. Inventory turnover for the year is
a. 8 times.
b. 14 times.
c. 6 times.
d. 4 times.
13. The average days in inventory during the year was a. 91 days.
b. 61 days.
c. 46 days.
d. 26 days.
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