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Refer to the data in PE 7-19. Compute number of days sales in inventory. Data from PE 7-19 Inventory, December

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Refer to the data in PE 7-19. Compute number of days’ sales in inventory.


Data from PE 7-19

Inventory, December 31, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 75,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 705,000
Inventory, January 1, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000

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Accounting concepts and applications

Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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Question Details
Chapter # 7
Section: Practice Exercises
Problem: 20
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Question Posted: December 30, 2011 04:41:03
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