Cost of sales for the year ended June 30, 2020 $ 510,000 Inventory balance

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Cost of sales for the year ended June 30, 2020 $ 510,000

Inventory balance on June 30, 2019 125,000

Inventory balance on June 30, 2020 165,000

Based on the values given above, what would you advise to the company towards improving the relevant ratio? (Necessary calculations and assumptions should be applied)

Related Book For answer-question

Accounting for Governmental and Nonprofit Entities

ISBN: 978-1259917059

18th edition

Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely

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Posted Date: Apr 17, 2024 10:22 PM

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Cost of sales for the year ended June 30, 2020 $ 510,000 Inventory balance

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Expert Answer:

To improve the relevant ratio we need to calculate and analyze the inventory turnover ratio which measures how efficiently a company manages its inven... View the full answer

Accounting for Governmental and Nonprofit Entities

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