The following data are from the income statements of Charles A.S. a. Compute for each year (1)

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The following data are from the income statements of Charles A.S.

2019 2020 Sales revenue Beginning inventory t6,240,000 860,000 t6,420,000 980,000 4,440,000 Purchases 4,720,000 980,000

a. Compute for each year (1) the inventory turnover and (2) the 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: 978-1119419617

IFRS global edition

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

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Question Posted: Jun 29, 2019 01:01 PM

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The following data are from the income statements of Charles A.S. a. Compute for each year (1)

Question:

2019 2020 Sales revenue Beginning inventory t6,240,000 860,000 t6,420,000 980,000 4,440,000 Purchases 4,720,000 980,000 Ending inventory 1,020,000

Step by Step Answer:

a b Management should be concerned with the fact that inven...View the full answer

Accounting Principles

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