Suppose the Robinson Company had a cost of goods sold of $1,000,000 in 2019 and $1,200,000 in
Question:
Suppose the Robinson Company had a cost of goods sold of $1,000,000 in 2019 and $1,200,000 in 2020.
a. Calculate the inventory turnover for each year. Comment on your findings.
b. What would have been the amount of inventories in 2020 if the 2019 turnover ratio had been maintained?
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a Inventory turnover COGSInventory 1200000500...View the full answer
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Related Book For 
Introduction To Finance Markets, Investments, And Financial Management
ISBN: 978-1119561170
17th Edition
Authors: Ronald W. Melicher, Edgar A. Norton
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