Question: Please answer a and b Problem 6 INVENTORY. On January 1, 20X6, the River Company's beginning inventory $400,000. During 20X6, River purchased $1,900,000 of additional

Please answer a and b
Problem 6 INVENTORY. On January 1, 20X6, the River Company's beginning inventory $400,000. During 20X6, River purchased $1,900,000 of additional inventory. On December 31, 20X6, River's ending inventory was $500,000. a. What is the inventory turnover and the age of inventory for 20X6? b. If the inventory turnover in 20X5 was 3.3 and the average age of the inventory was 100.6 days, evaluate the results 20X6
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
