Question: SCC Co, reported the following for the current year: Net sales Cost of goods sold Beginning balance in inventory Ending balance in inventory $52,000 $45,900

SCC Co, reported the following for the current year: Net sales Cost of goods sold Beginning balance in inventory Ending balance in inventory $52,000 $45,900 $ 2,400 $ 8,400 Compute (a) inventory turnover and (b) days' sales in inventory. Hint Recall that inventory turnover uses average inventory. and days' sales in inventory uses the ending balance in inventory Complete this question by entering your answers in the tabs below. Inventory Days Sales In Turnover Inventory Compute the inventory turnover. Inventory Turnover + Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover times 11 7 Mon Tum Days Sales In Inventory > Complete this question by entering your answers in the tabs below. Inventory Turnover Days Sales In Inventory Compute the days' sales in inventory. Days' Sales In Inventory 1 Choose Denominator: Choose Numerator: Days 11 = Days' Sales In Inventory Days' sales in inventory days 1 11
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
