This information is available for Santos Photo Corporation for 2009, 2010, and 2011. Instructions Calculate inventory turnover,

Question:

This information is available for Santo’s Photo Corporation for 2009, 2010, and 2011.

2009 2010 2011 $ 400,000 480,000 1,300,000 1,900,000 $ 100,000 Beginning inventory Ending inventory Cost of goods sold S

Instructions

Calculate inventory turnover, days in inventory, and gross profit rate (from Chapter 5) for Santo’s Photo Corporation for 2009, 2010, 2011. Comment on any trends.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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2009 2010 2011 Inventory turnover 900000 1120000 1300000 100000 300000 2 300...View the full answer

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Accounting Principles

ISBN: 978-0470533475

9th Edition

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

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Question Posted: Sep 20, 2011 09:00 AM

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This information is available for Santos Photo Corporation for 2009, 2010, and 2011. Instructions Calculate inventory turnover,

Question:

2009 2010 2011 $ 400,000 480,000 1,300,000 1,900,000 $ 100,000 Beginning inventory Ending inventory Cost of goods sold Sales $ 300,000 300,000 1,120,000 1,600,000 900,000 1,200,000

Step by Step Answer:

2009 2010 2011 Inventory turnover 900000 1120000 1300000 100000 300000 2 300...View the full answer

Accounting Principles

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