The following information is available for Danier Leather Inc. for three recent years (in thousands): Inventory...
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The following information is available for Danier Leather Inc. for three recent years (in thousands): Inventory Sales Cost of goods sold 2011 $29,031 166,350 82,863 2010 $29,483 175,270 88,742 2009 $37,029 175,487 88,788 Required: 1. Calculate and assess whether the change has been favourable or unfavourable. a. Merchandise inventory turnover for 2011 and 2010. (round to two decimals) b. Days sales in inventory for 2011 and 2010 (round to the nearest day) The following information is available for Danier Leather Inc. for three recent years (in thousands): Inventory Sales Cost of goods sold 2011 $29,031 166,350 82,863 2010 $29,483 175,270 88,742 2009 $37,029 175,487 88,788 Required: 1. Calculate and assess whether the change has been favourable or unfavourable. a. Merchandise inventory turnover for 2011 and 2010. (round to two decimals) b. Days sales in inventory for 2011 and 2010 (round to the nearest day)
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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