Reynolds Company had net sales of $2,500,000, cost of goods sold of $1,150,000, and profit of $500,000
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Reynold’s Company had net sales of $2,500,000, cost of goods sold of $1,150,000, and profit of $500,000 in 2014. The company had a January 1, 2014, inventory balance of $132,000 and a December 31, 2014, inventory balance of $143,000. Calculate the inventory turnover and days sales in inventory ratios for 2014?
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Related Book For 
Principles Of Financial Accounting
ISBN: 9781118757147
1st Canadian Edition
Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow
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