The Southern Corporation installed a new inLO5 ventory management system at the beginning of 2018. Shown below

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The Southern Corporation installed a new inLO5 ventory management system at the beginning of 2018. Shown below are data from the company's accounting records as reported by the new system:

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Calculate the company's

(a) inventory turnover (round to three decimal places) and

(b) days' sales in inventory for 2018 and 2019. Comment on your results.

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Financial Accounting For Undergraduates

ISBN: 9781618533081

4th Edition

Authors: Wallace

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Question Posted: May 16, 2024 12:01 PM

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The Southern Corporation installed a new inLO5 ventory management system at the beginning of 2018. Shown below

Question:

Sales revenue... Cost of goods sold. Beginning inventory Ending inventory... $19,000,000 2018 2019 $20,000,000 8,600,000 9,200,000 2,500,000 2,530,000 2,530,000 2,600,000

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Financial Accounting For Undergraduates

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