Inventory turnover and number of days' sales in inventory Financial statement data for years ending December...
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Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Υ7 20Y6 Cost of goods sold $3,695,625 $4,004,780 Inventories: Beginning of year 788,400 751,900 End of year 854,100 788,400 Required a. Determine the inventory turmover for 20Y7 and 20Y6. Round to one decimal place. 20Y7 20Y6 Inventory turnover b. Determine the number of days' sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. 20Y7 20Υ6 Number of days' sales in inventory days days c. Are the changes in inventory turnover and the number of days' sales in inventory from 20v6 to 2017 favorable or unfavorable? Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Υ7 20Y6 Cost of goods sold $3,695,625 $4,004,780 Inventories: Beginning of year 788,400 751,900 End of year 854,100 788,400 Required a. Determine the inventory turmover for 20Y7 and 20Y6. Round to one decimal place. 20Y7 20Y6 Inventory turnover b. Determine the number of days' sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. 20Y7 20Υ6 Number of days' sales in inventory days days c. Are the changes in inventory turnover and the number of days' sales in inventory from 20v6 to 2017 favorable or unfavorable?
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Answer Answer a 207 20Y6 Inventory turnover 45 52 Inventory turnover Cost of ... View the full answer
Related Book For
Accounting
ISBN: 978-1285743615
26th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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