Selected financial information for Edwards Company for Year 4 follows. Sales ..................................... $800,000 Cost of goods sold
Question:
Selected financial information for Edwards Company for Year 4 follows.
Sales ..................................... $800,000
Cost of goods sold ................ 500,000
Merchandise inventory
Beginning of year ................... 37,500
End of year .............................. 42,500
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Survey Of Accounting
ISBN: 9781260575293
6th Edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds
Question Posted: