Question
In 2004, James, owner of James Television Sales Shop, had cost of goods sold of $358,358, in 2005, it was $365,069. On the last day
In 2004, James, owner of James’ Television Sales Shop, had cost of goods sold of $358,358, in 2005, it was $365,069. On the last day 2004, his inventory was $45,675, and on the last day of 2005 it was $51,559. What is the inventory turnover for 2005?
Step by Step Solution
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Step: 1
Inventory Turnover Cost of goods Sold Inventory for 2005 365069 51559 7 ti...
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Step: 2
Step: 3
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Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
