Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At December 31, suppose that the following information (in thousands) was available for Banana Republic Inc: ending inventory $22,600; beginning inventory $21,800; cost of goods

image text in transcribed
At December 31, suppose that the following information (in thousands) was available for Banana Republic Inc: ending inventory $22,600; beginning inventory $21,800; cost of goods sold $166,500, and sales revenue $450,000. Calculate the inventory turnover and days in inventory for Banana Republic. (Round answers to 1 decimal places, e.8. 15.2, Use 365 days for calculation.) Inventory turnover times Days in inventory days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions