Financial statement data for years ending December 31 for Salsa Company follow: 20Y7 20Y6 Cost of merchandise sold $2,912,700 $3,009,790 Inventories: Beginning of year 489,000 481,900 End of year 533,000 489,000 a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place.
Financial statement data for years ending December 31 for Salsa Company follow: 20Y7 20Y6 Cost of merchandise sold $2,912,700 $3,009,790 Inventories: Beginning of year 489,000 481,900 End of year 533,000 489,000 a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...
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