From the following information for Russo Merchandising Co., calculate inventory turnover for 2021 and 2020 and days?

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From the following information for Russo Merchandising Co., calculate inventory turnover for 2021 and 2020 and days? sales in inventory at December 31, 2021 and 2020. Round answers to one decimal place.

Comment on Russo?s efficiency in using its assets to support increasing sales from 2020 to 2021.

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 11, 2019 11:24 AM

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From the following information for Russo Merchandising Co., calculate inventory turnover for 2021 and 2020 and days?

Question:

2019 2020 2021 Cost of goods sold.. Merchandise inventory (December 31). $643,825 $426,650 86,750 $391,300 91,500 96,400

Step by Step Answer:

It appears that Russo has lower levels of inventory on hand because it is turning it over more qu...View the full answer

Fundamental Accounting Principles Volume I

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