Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold Merchandise inventory Beginning of year End of year $2,050,000 1,435,000 Merchandise inventory turnover 157,000 196,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) times
Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold Merchandise inventory Beginning of year End of year $2,050,000 1,435,000 Merchandise inventory turnover 157,000 196,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) times
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 27CE: Inventory Analysis Singleton Inc. reported the following information for the current year: Required:...
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