On December 31, 2008, the following information was available for Simon Hotels: ending inventory $40,000; beginning inventory
Question:
On December 31, 2008, the following information was available for Simon Hotels: ending inventory $40,000; beginning inventory $60,000; cost of goods sold $300,000; and sales revenue $380,000. Calculate inventory turnover and days in inventory for Simon Hotels.
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Inventory Turnover is calculated as under Cost of Good Sold div...View the full answer
Answered By
Gautam Mandal
I believe my expertise and experience position me as a perfect tutor for this role. I have last 20 years of experience in teaching as well as corporate sector in the areas of Accounts & Finance, Taxation functions providing my qualification and background.
My last association with M/s. Woco Motherson Ltd.(FZC) –Sharjah (UAE) operation, as Factory Accountant ; managing overall accounting activities including preparation of monthly profitability, finalize all books of accounts, Audit, Budgeting, MIS, Purchase, Import, Export & HR/admin functions.
Presently I am working with M/s. Sushe Marine Services Pvt. Ltd. Kolkata, India as a Manager- Finance & Accounts, handling over all Accounting, Audit, MIS, , Budgeting, Finance, Imports, Invoicing, Revenue Generation, Commercial & General Management functions.
Last five years I am also associate with Chegg and Transtutor as a expert tutor as subject matter of Accounts/ finance, corporate accounts, audit & general management.
0 Reviews
10+ Question Solved
Related Book For 
Hospitality Financial Accounting
ISBN: 978-0470083604
2nd Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
Question Posted:
