Both Dave and Kelly own auto parts stores. The following information is available for 2011 and 2012:

Question:

Kelly Dave Cost of goods sold: 2011 2012 Ending inventory: 2011 2012. S150,000 130,000 $300,000 75,000 55,000 225,000 25

1. Calculate each company€™s turnover for inventory for 2012.
2. Calculate each company€™s days in inventory for 2012 (assume 365 days in a year).
3. Which owner manages inventory better? Explain youranswer.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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Question Posted: Dec 28, 2011 03:52 AM

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Both Dave and Kelly own auto parts stores. The following information is available for 2011 and 2012:

Question:

Kelly Dave Cost of goods sold: 2011 2012 Ending inventory: 2011 2012. S150,000 130,000 $300,000 75,000 55,000 225,000 255,000

Step by Step Answer:

1 Dave Inventory turnover 130000 75000 55000 2 20 ti...View the full answer

Accounting concepts and applications

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