Using the Spin Master financial statements in Appendix III, calculate the following ratios for the years ended
Question:
Using the Spin Master financial statements in Appendix III, calculate the following ratios for the years ended December 31, 2019, and December 31, 2020. Comment on the change.
a. Inventory turnover ratio (round to two decimal places)
b. Days’ sales in inventory (round to the nearest day)
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Spin Masters inventory turnover ratio has increased ...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume 1
ISBN: 9781260881325
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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