Question
. A company reported the following data: Year 1 Year 2 Year 3 Cost of goods sold $347,600 $379,650 $443,900 Average inventory 85,000 91,050 98,350
. A company reported the following data:
|
| Year 1 | Year 2 | Year 3 |
| Cost of goods sold | $347,600 | $379,650 | $443,900 |
| Average inventory | 85,000 | 91,050 | 98,350 |
Required: 1. Calculate the company's merchandise inventory turnover for each year. 2. Comment on the company's efficiency in managing its inventory.
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The Four Corners Of Financial Accounting
Authors: Shaho Heidari Gandoman
1st Edition
1952751950, 978-1952751950
