stion 8 Golden Corporation have the following information from its books: Sales P1,600,000 Credit sales 90% of Sales Cost of Sales 70% of Sales Average Collection Period 40 days Average Days Sales 30 days How much is the Average Inventory?

stion 8 Golden Corporation have the following information from its books: Sales P1,600,000 Credit sales 90% of Sales Cost of Sales 70% of Sales Average Collection Period 40 days Average Days Sales 30 days How much is the Average Inventory?

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

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

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

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.5BE: Inventory analysis A company reports the following: Cost of goods sold 435,000 Average inventory...

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Dollar-Value LIFO A company adopted the LIFO method when its inventory was 1,800. One year later its ending inventory was 2,100, and costs had increased 5% during the year. Required: What is the ending inventory using dollar-value LIFO? Round to the nearest dollar.
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