Santa Fe Communications reported the following figures in its annual financial statements: Cost of Goods Sold ..............

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Santa Fe Communications reported the following figures in its annual financial statements:

Cost of Goods Sold .............. $ 18,000

Beginning Merchandise Inventory ..........500

Ending Merchandise Inventory .........425

Compute the rate of inventory turnover and days’ sales in inventory for Santa Fe Communications. (Round to two decimal places.)

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jan 16, 2015 09:40 AM

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Santa Fe Communications reported the following figures in its annual financial statements: Cost of Goods Sold ..............

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Inventory turnover is 3892 times and days sales in inventory is 938 days Calcu...View the full answer

Horngrens Financial and Managerial Accounting

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