In early 2022, a company switched to a just-in-time inventory system.its sales and inventories for 2021 and

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In early 2022, a company switched to a just-in-time inventory system. its sales and inventories for 2021 and 2022 are shown below.

2021 2022

Sales income 3220000 3840000

Cost of goods sold 1406250 1728000

Beginning inventory 150,000 225,000

Ending inventory 225,000 95,000

Determine inventory turnover for 2021 and 2022

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Posted Date: Aug 02, 2023 07:41 AM

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In early 2022, a company switched to a just-in-time inventory system.its sales and inventories for 2021 and

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To determine the inventory turnover for 2021 and 2022 we can use the following formula Invento... View the full answer

Financial Accounting Tools for Business Decision Making

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