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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 27
Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days
Belt Company had net sales of $2,225,500,000 and cost of goods sold of $1,557,850,000. Belt had the following balances:
Required:
Note : Round answers to two decimal places.
1. Calculate the average inventory.
2. Calculate the inventory turnover ratio.
3. Calculate the inventory turnover in days.
Belt Company had net sales of $2,225,500,000 and cost of goods sold of $1,557,850,000. Belt had the following balances:
Required:
Note : Round answers to two decimal places.
1. Calculate the average inventory.
2. Calculate the inventory turnover ratio.
3. Calculate the inventory turnover in days.
Explanation
Verified
Verified
Inventory turnover ratio indicates how m...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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