From the following information for Russo Merchandising Co., calculate inventory turnover for 2024 and 2023 and days

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From the following information for Russo Merchandising Co., calculate inventory turnover for 2024 and 2023 and days’ sales in inventory at December 31, 2024 and 2023. Round answers to one decimal place.

Comment on Russo’s efficiency in using its assets to support increasing sales from 2023 to 2024.

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Fundamental Accounting Principles Volume 1

ISBN: 9781260881325

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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Question Posted: Jun 28, 2023 12:37 AM

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From the following information for Russo Merchandising Co., calculate inventory turnover for 2024 and 2023 and days

Question:

Cost of goods sold.. Merchandise inventory (December 31).. 2024 2023 2022 $643,825 $426,650 $391,300 96,400 86,750 91,500

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It appears that Russo has lower levels of inventory on hand because it is turning it over more qu...View the full answer

Fundamental Accounting Principles Volume 1

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