Question
) ABC Co had Cost of Goods Sold in 2022 of $1,500,000. Inventory at January 1 2022 was $160,000 and $140,000 on December 31, 2022.
) ABC Co had Cost of Goods Sold in 2022 of $1,500,000. Inventory at January 1 2022 was $160,000 and $140,000 on December 31, 2022.
a) What is the inventory turnover ratio?
b) What is the days sales in inventory
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Computer Auditing Security And Internal Control Manual
Authors: Javier F. Kuong
1st Edition
0131629670, 978-0131629677
