The following information was available for Metlock, Inc. at December 31, 2022: beginning inventory $82000; ending inventory $1240003; cost of goods sold $620000; and sales $808000. Metlock inventory turnover ratio in 2022 was O 7.8 times. O 7.6 times. O 5.0 times. O 6.0 times.

The following information was available for Metlock, Inc. at December 31, 2022: beginning inventory $82000; ending inventory $1240003; cost of goods sold $620000; and sales $808000. Metlock inventory turnover ratio in 2022 was O 7.8 times. O 7.6 times. O 5.0 times. O 6.0 times.

Name: The following information was available forMetlock, Inc. at December
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Description: The following information was available forMetlock, Inc. at December 31, 2022: beginninginventory $82000; ending inventory $124000%3;cost of goods sold $620000; and sales $808000.Metlock inventory turnover ratio in 2022 wasO 7.8 times.O 7.6 times.O

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 4MC

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