Question: Problem III - LO 4 - The following data are from the income statements of Zeina's restaurant : (10 points) : Sales Beginning inventory Purchases

 Problem III - LO 4 - The following data are from

Problem III - LO 4 - The following data are from the income statements of Zeina's restaurant : (10 points) : Sales Beginning inventory Purchases Ending inventory 2019 9,220,000 2,924,500 2,255,750 892,000 2018 7,132,000 2,834,000 2,317,350 857,000 a/ Compute for each year (1) the inventory turnover and (2) the average days to sell the inventory. Inventory turnover formula=Cost of goods sold Average inventory 2019 2018 Cost of goods sold Cost of goods sold Average inventory Average inventory Inventory turnover Inventory turnover Number of days Number of days b/ In which year the company was performing better in managing its inventories. What conclusions concerning the management of the inventory can be drawn from these data

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!