Income statements for Eldermon Sales Company follow. Analyze the inventory position at the end of each year

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Income statements for Eldermon Sales Company follow. Analyze the inventory position at the end of each year as well as the profitability of inventory sales in each year. What conclusions would you make concerning the inventory trend?

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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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Question Posted: Nov 28, 2016 11:45 AM

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Income statements for Eldermon Sales Company follow. Analyze the inventory position at the end of each year

Question:

2013 2012 2011 Sakn $1:SJXX) $100,00() $ni(XX) Cost of goods sold: 05,000 80,000 80,000 85,000 $135,000 $105,000 $90,000 45,000 $90,000 :Ki,000 30,000 $75,000 串꼇i,000 $65,000 atKilì pmiit . . $10,000

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2013 2012 2011 Gross profit percentage 28 25 13 Inventory turnoveraverage inventory 24 27 43 Number ...View the full answer

Intermediate Accounting

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