A company reports the following: Cost of merchandise sold ...............................................................$680,400 Average merchandise inventory ........................................................94,500 Determine (a) The

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A company reports the following:

Cost of merchandise sold ...............................................................$680,400
Average merchandise inventory ........................................................94,500

Determine

(a) The inventory turnover

(b) The number of days’ sales in inventory.

Round to one decimal place.

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Financial Accounting

ISBN: 9781337913102

16th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Jun 13, 2022 04:13 AM

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A company reports the following: Cost of merchandise sold ...............................................................$680,400 Average merchandise inventory ........................................................94,500 Determine (a) The

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Answer 1 INVENTORY TURNOVER RATIO FORMULA COST OF GOODS SOLD ...View the full answer

Financial Accounting

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