Refer to the information in Exercise 17-6 and calculate the days sales in inventory for Furniture Retailers
Question:
Refer to the information in Exercise 17-6 and calculate the days’ sales in inventory for Furniture Retailers and Custom Furniture Corp for 2020 (round to two decimal places). Which company has the more favourable ratio? Explain why.
Exercise 17-6
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(millons of $) Furniture Fresh-cut Custom Furniture Computer Inc. Retallers Flowers Inc. Corp 2020 2019 2020 2019 2020 2019 2020 2019 Cost of goods sold.. $1,491 $1,009 $3,345 $2,270 $2,040 $2,685 $2,670 $1,770 Inventory.. 258 222 271 130 22 9 87 174
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Furniture Retailers Custom Furniture Corp 2020 2020 Cost of goods sold 3345 2670 Inventory ...View the full answer
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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