following data were taken from the income statements of Mydorf Company. a. Compute for each year (1)
Question:
a. Compute for each year
(1) The inventory turnover
(2) Days in inventory.
b. What conclusions concerning the management of the inventory can be drawn from these data?
Transcribed Image Text:
2019 2020 Sales revenue $6,420,000 $6,240,000 840,000 Beginning inventory Purchases 960,000 4,840,000 1,020,000 4,661,000 960,000 Ending inventory
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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