On January 1, 20X1, River Companys inventory was $400,000. During 20X1, the company purchased $1,900,000 of additional
Question:
On January 1, 20X1, River Company’s inventory was $400,000. During 20X1, the company purchased $1,900,000 of additional inventory, and on December 31, 20X1, its inventory was $500,000.
Required:
What was the inventory turnover for 20X1?
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Beginning inventory 400000 given Purchases 1900000 given Cos...View the full answer
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Related Book For 
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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