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

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Financial statement data for two years ending December 31 for Holland Company follow:image text in transcribed

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

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

c. Are the changes in the inventory turnover and number of days’ sales in inventory from 20Y3 to 20Y4 favorable or unfavorable?

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Financial And Managerial Accounting

ISBN: 9781337902663

15th Edition

Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler

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