Rainbow Inc. had total sales of $ 480,000 in 2019 and the credits and allowances totaled $

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Rainbow Inc. had total sales of $ 480,000 in 2019 and the credits and allowances totaled $ 10,000. The company sold 150,000 units with 2019? Per unit cost of goods sold of $ 2. The average inventory at cost is $100,000.

What is the Inventory Turnover ratio of the company in 2019?

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Managerial Accounting

ISBN: 9780073526706

12th Edition

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

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Posted Date: Jul 20, 2023 01:33 AM

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Rainbow Inc. had total sales of $ 480,000 in 2019 and the credits and allowances totaled $

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To calculate the Inventory Turnover ratio we need two pieces of information the average inventory ... View the full answer

Managerial Accounting

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