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Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314 Exercise 12
Calculate activity measures The following information was available for the year ended December 31, 2016:
Required:
a. Calculate the inventory turnover for 2016.
b. Calculate the number of days' sales in inventory for 2016, using year-end inventories.
c. Calculate the accounts receivable turnover for 2016.
d. Calculate the number of days' sales in accounts receivable for 2016, using year-end accounts receivable.
Required:
a. Calculate the inventory turnover for 2016.
b. Calculate the number of days' sales in inventory for 2016, using year-end inventories.
c. Calculate the accounts receivable turnover for 2016.
d. Calculate the number of days' sales in accounts receivable for 2016, using year-end accounts receivable.
Explanation
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(a) Calculate Inventory turnover ratio f...
Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
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