SCC Co. reported the following for the current year: net sales of $48,000; cost of goods sold

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SCC Co. reported the following for the current year: net sales of $48,000; cost of goods sold of $40,000; beginning balance in inventory of $2,000; and ending balance in inventory of $8,000. Compute

(a) Inventory turnover

(b) Days’sales in inventory.

Recall that inventory turnover uses average inventory and days’ sales in inventory uses the ending balance in inventory.

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Fundamental Accounting Principles

ISBN: 978-1259916960

24th edition

Authors: John J Wild, Ken Shaw

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Question Posted: Jul 10, 2019 07:32 AM

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SCC Co. reported the following for the current year: net sales of $48,000; cost of goods sold

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Fundamental Accounting Principles

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