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The following financial statement data for years ending December 31 115476

The following financial statement data for years ending December 31 115476

The following financial statement data for years ending December 31 for Pinnell Company are shown below.

a. Determine inventory turnover for 2012 and 2011.
b. Determine the number of days€™ sales in inventory for 2012 and 2011. Round to one decimal place.
c. Does the change in inventory turnover and the number of days€™ sales in inventory from 2011 to 2012 indicate a favorable or unfavorabletrend?

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Managerial Accounting Questions

Transcribed Image Text

2012 2011 Cost of merchandise sold Inventories: $1,800,000 1,428,000 Beginning of year End of year $570,000 630,000 $450,000 570,000

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Financial Accounting

12th Edition

Authors: Warren, Reeve, Duchac

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