Maddox Steel Co. had an inventory turnover of 9 in 20X3 and 7 in 20X4. Required: Interpret
Question:
Maddox Steel Co. had an inventory turnover of 9 in 20X3 and 7 in 20X4.
Required:
Interpret these figures and comment on the trend. What is the company’s average days in inventory?
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The inventory turnover ratio has decreased from 9 to 7 indicating that the inventory is ...View the full answer
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Related Book For
Intermediate Accounting Volume 2
ISBN: 9781260881240
8th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
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