The following data are from the income statements of Ellen Noodles Company: (a) Compute for each year

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The following data are from the income statements of Ellen Noodles Company:

(a) Compute for each year
(1) The inventory turnover and
(2) The average days to sell the inventory.
(b)What conclusions concerning the management of the inventory can be drawn from thesedata?

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Hospitality Financial Accounting

ISBN: 978-0470083604

2nd Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.

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Question Posted: Feb 06, 2013 06:42 AM

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The following data are from the income statements of Ellen Noodles Company: (a) Compute for each year

Question:

2009 $6,420,000 94511,000 4,540,000 1,020,000 2008 Sales $6,240,000 860,000 4,661,000 960,000 Beginning inventory Purchases Ending inventory

Step by Step Answer:

a Inventory turnover Cost of goods soldAverage inventory 1 2 ...View the full answer

Hospitality Financial Accounting

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