The following data were taken from the financial records of Sunland Company. Net Sales Beginning inventory Purchases Ending inventory (a1) 2022 $6,480,000 Inventory turnover 1,000,000 4,363,000 1,020,000 Your answer is incorrect. 2021 2022 $6,250,000 850,000 4,590,000 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 1,000,000 times 2021 times
The following data were taken from the financial records of Sunland Company. Net Sales Beginning inventory Purchases Ending inventory (a1) 2022 $6,480,000 Inventory turnover 1,000,000 4,363,000 1,020,000 Your answer is incorrect. 2021 2022 $6,250,000 850,000 4,590,000 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 1,000,000 times 2021 times
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 5PEA
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![The following data were taken from the financial records of Sunland Company.
Net Sales
Beginning inventory
Purchases
Ending inventory
(a1)
2022
$6,480,000
Inventory turnover
1,000,000
4,363,000
1,020,000
Your answer is incorrect.
2021
2022
$6,250,000
850,000
4,590,000
Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)
1,000,000
times
2021
times](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F185d0422-fc06-4ca6-bfba-be5f65451835%2Ff8b73df5-e9ec-40cc-9871-b7df9db65205%2F5eigfqd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following data were taken from the financial records of Sunland Company.
Net Sales
Beginning inventory
Purchases
Ending inventory
(a1)
2022
$6,480,000
Inventory turnover
1,000,000
4,363,000
1,020,000
Your answer is incorrect.
2021
2022
$6,250,000
850,000
4,590,000
Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)
1,000,000
times
2021
times
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