following data were taken from the income statements of Mydorf Company. a. Compute for each year (1)

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

2019 2020 Sales revenue $6,420,000 $6,240,000 840,000 Beginning inventory Purchases 960,000 4,840,000 1,020,000 4,661,00

a. Compute for each year

(1) The inventory turnover

(2) Days in inventory.
b. What conclusions concerning the management of the inventory can be drawn from these data?

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Accounting Principles

ISBN: 978-1119411482

13th edition

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

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Question Posted: Jan 15, 2019 07:40 AM

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following data were taken from the income statements of Mydorf Company. a. Compute for each year (1)

Question:

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

Step by Step Answer:

a b Days in inventory Management should be concerned with the ...View the full answer

Accounting Principles

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