The financial data for Crane's Fresh Fruits Incorporated and Cullumber's Supermarket Ltd. for the current year are as follows: Crane's Fresh Fruits Cullumber's Supermarket (a) Annual Cost of Goods Sold $9,724,440 Inventory turnover 53,026,340 Inventory Jan. 1 $64 100 4,512,200 Crane's Fresh Fruits Inventory Dec. 31 Calculate the inventory turnover for each company. (Round answers to 1 decimal place, e.g. 18.4.) times $756,100 1.128,900 Cullumber's Supermarket times
The financial data for Crane's Fresh Fruits Incorporated and Cullumber's Supermarket Ltd. for the current year are as follows: Crane's Fresh Fruits Cullumber's Supermarket (a) Annual Cost of Goods Sold $9,724,440 Inventory turnover 53,026,340 Inventory Jan. 1 $64 100 4,512,200 Crane's Fresh Fruits Inventory Dec. 31 Calculate the inventory turnover for each company. (Round answers to 1 decimal place, e.g. 18.4.) times $756,100 1.128,900 Cullumber's Supermarket 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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![The financial data for Crane's Fresh Fruits Incorporated and Cullumber's Supermarket Ltd. for the current year are as follows:
Crane's Fresh Fruits
Cullumber's Supermarket
(a)
Annual Cost
of Goods
Sold
$9,724,440
Inventory turnover
53,026,340
Inventory
Jan. 1
$64 100
4,512,200
Crane's Fresh Fruits
Inventory
Dec. 31
Calculate the inventory turnover for each company. (Round answers to 1 decimal place, e.g. 18.4.)
times
$756,100
1,128,900
Cullumber's Supermarket
times](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd112bffb-a24e-49a9-800c-783cd3cdd4ac%2Fd38de3e8-b43c-4b0d-961e-8b59c91b9d46%2Fy4gdumd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The financial data for Crane's Fresh Fruits Incorporated and Cullumber's Supermarket Ltd. for the current year are as follows:
Crane's Fresh Fruits
Cullumber's Supermarket
(a)
Annual Cost
of Goods
Sold
$9,724,440
Inventory turnover
53,026,340
Inventory
Jan. 1
$64 100
4,512,200
Crane's Fresh Fruits
Inventory
Dec. 31
Calculate the inventory turnover for each company. (Round answers to 1 decimal place, e.g. 18.4.)
times
$756,100
1,128,900
Cullumber's Supermarket
times
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