The following data were taken from the income statements of Mydorf Company. a. Compute for each year

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The following data were taken from the income statements of Mydorf Company.

a. Compute for each year (1) the inventory turnover and (2) days in inventory.

b. What conclusions concerning the management of the inventory can be drawn from these data?

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Financial and Managerial Accounting

ISBN: 978-1119392132

3rd edition

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

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Question Posted: Feb 13, 2020 12:53 PM

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The following data were taken from the income statements of Mydorf Company. a. Compute for each year

Question:

2020 2019 Sales revenue $6,420,000 $6,240,000 Beginning inventory 960,000 840,000 Purchases 4,840,000 4,661,000 Ending inventory 960,000 1,020,000

Step by Step Answer:

a Inv turnover CGS Ave inv 2020 960000 4840000 1020000 960000 1020000 2 b ...View the full answer

Financial and Managerial Accounting

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