Financial statement data for years ending December 31 for Amsterdam Company follow: a. Determine the inventory turnover

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Financial statement data for years ending December 31 for Amsterdam Company follow:

a. Determine the inventory turnover for 20Y4 and 20Y3.

b. Determine the days’ sales in inventory for 20Y4 and 20Y3. Use 365 days and round to one decimal place.

c. Does the change in inventory turnover and the days’ sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable trend?

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 07, 2021 08:04 AM

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Financial statement data for years ending December 31 for Amsterdam Company follow: a. Determine the inventory turnover

Question:

20Υ4 20Υ3 Cost of merchandise sold $3,598,900 $3,015,630 Inventories: 593,000 589,600 Beginning of year End of year 648,000 593,000

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Accounting

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