The cost of goods sold computations for Sooner Company and Later Company are shown below. Instructions (a)

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The cost of goods sold computations for Sooner Company and Later Company are shown below.

Instructions
(a) Compute inventory turnover and days in inventory for each company.
(b) Which company moves its inventory morequickly?

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Mar 02, 2015 09:36 AM

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The cost of goods sold computations for Sooner Company and Later Company are shown below. Instructions (a)

Question:

Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Sooner Company 45,000 200,000 245,000 55,000 $190,000 Later Company 71,000 290,000 361,000 69,000 $292,000

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a Sooner Company Later Company Inventory Turnover 190000 29...View the full answer

Accounting Principles

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