The following data were taken from the financial records of Mydorf Company. Net Sales Beginning inventory Purchases Ending inventory (1) Inventory turnover (2) Days in inventory (b) 2022 $6,420,000 940,000 4,340,000 1,020,000 2022 2021 76 days $6,240,000 860,000 4,661,000 940,000 2021 4.8 times 5.0 times 73 days What conclusions concerning the management of the inventory can be drawn from these data?

The following data were taken from the financial records of Mydorf Company. Net Sales Beginning inventory Purchases Ending inventory (1) Inventory turnover (2) Days in inventory (b) 2022 $6,420,000 940,000 4,340,000 1,020,000 2022 2021 76 days $6,240,000 860,000 4,661,000 940,000 2021 4.8 times 5.0 times 73 days What conclusions concerning the management of the inventory can be drawn from these data?

Financial Accounting

15th Edition

ISBN:9781337272124

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

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

Chapter7: Inventories

Section: Chapter Questions

Problem 8PEA: Financial statement data for years ending December 31 for Holland Company follow: a. Determine the...

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