Question: Inventory and cost of goods sold information for Lafleche Inc

Inventory and cost of goods sold information for Lafleche Inc. is provided below:



Required:
a. Calculate the inventory turnover ratio and average number of days in inventory under the two cost formulas.
b. Why are the amounts different under the two cost formulas?
c. Under which cost formula is inventory turning over morequickly?
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  • CreatedFebruary 26, 2015
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