The following data were extracted from the income statement of Saleh Inc a Determine for each year (1) The inventory turnover (2) The number of days sales in inventory Round to the nearest dollar and one decimal place b What conclusions can be drawn from these data concerning theinventories Precedi...

a 17466 6375000 365 days 20219 7380000 365 days b The inventory po ...

The following data were extracted from the income statement of Saleh Inc.: a. Determine for each year

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The following data were extracted from the income statement of Saleh Inc.:

a. Determine for each year
(1) The inventory turnover
(2) The number of daysâ€™ sales in inventory. Round to the nearest dollar and one decimal place.
b. What conclusions can be drawn from these data concerning theinventories?

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Feb 28, 2014 09:20 AM

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The following data were extracted from the income statement of Saleh Inc.: a. Determine for each year

Question:

Preceding Year Sales Beginning inventories Cost of goods sold Ending inventories Current Year $12,750,000 840,000 6,375,000 860,000 $13,284,000 800,000 7380,000 840,000

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Corporate Financial Accounting

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