The following information was available for the year ended December 31, 2022: Required: a. Calculate the inventory

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The following information was available for the year ended December 31, 2022:

Required:
a. Calculate the inventory turnover for 2022.
b. Calculate the number of days’ sales in inventory for 2022, using year-end inventories.

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Accounting What The Numbers Mean

ISBN: 9781264126743

13th Edition

Authors: David Marshall

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Question Posted: Oct 18, 2022 03:11 AM

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The following information was available for the year ended December 31, 2022: Required: a. Calculate the inventory

Question:

Cost of goods sold . . . . . . . . Average inventory for the year Inventory at year-end . . $350,400 109,500 105,600

Step by Step Answer:

a Inventory turnover Cost of goods sold average inventories 350400 ...View the full answer

Accounting What The Numbers Mean

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