The following information was available for Swifty Company at December 31, 2020: beginning inventory $156000; ending inventory $84000; cost of goods sold $1440000; and sales $1340000. Swifty's inventory turnover in 2020 was O 11.2 times. O 17.1 times. O 12.0 times. O 9.2 times.

The following information was available for Swifty Company at December 31, 2020: beginning inventory $156000; ending inventory $84000; cost of goods sold $1440000; and sales $1340000. Swifty's inventory turnover in 2020 was O 11.2 times. O 17.1 times. O 12.0 times. O 9.2 times.

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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The following information was available for Swifty Company at December 31, 2020: beginning inventory $156000; ending inventory
$84000; cost of goods sold $1440000; and sales $1340000. Swifty's inventory turnover in 2020 was
O 11.2 times.
O 17.1 times.
12.0 times.
O 9.2 times.

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