Mixon Company showed the following selected information for the years ended December 31, 2020, 2019, and 2018:

Question:

For the years ended 2020 and 2019, calculate:

a. Days? sales in inventory

b. Inventory turnover

Indicate if the change in the ratio from 2019 to 2020 is generally considered to be favourable (good) or unfavourable (not good). Round calculations to two decimal places.

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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 11:21 AM

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Mixon Company showed the following selected information for the years ended December 31, 2020, 2019, and 2018:

Question:

2019 2020 2018 $410,225 56,195 Cost of goods sold.. $344,500 82,500 $312,600 111,500 Merchandise inventory (December 31)..

Step by Step Answer:

a Days sales in inventory The change from 2019 to ...View the full answer

Fundamental Accounting Principles Volume I

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