Based on the following information Compute the following (a) Inventory turnover (b) Average daily cost of goods sold (c) Number of days ' sales in inventory (d) If an inventory turnover of 12 is average for the industry, how is this company doing Item Cost of goods sold Inventory Prior Year $172,90...

All working forms part of the answer Working Working Inven ...

Based on the following information: Compute the following: (a) Inventory turnover (b) Average daily cost of goods

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Question:

Based on the following information:

Compute the following:

(a) Inventory turnover

(b) Average daily cost of goods sold

(d) If an inventory turnover of 12 is average for the industry, how is this company doing?

Related Book For answer-question

Horngrens Financial and Managerial Accounting

ISBN: 978-0133866292

5th edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Posted Date: Sep 04, 2018 12:36 AM

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Based on the following information: Compute the following: (a) Inventory turnover (b) Average daily cost of goods

Question:

Item Cost of goods sold Inventory Prior Year $172,900 18,000 Current Year $215,000 12,000 Item Cost of goods sold Inventory Prior Year $172,900 18,000 Current Year $215,000 12,000

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Horngrens Financial and Managerial Accounting

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