Question
At the beginning of 2019, Percolate Corp. had inventory of $354,000. During the year, it purchased $298,000 worth of raw materials and sold $593,000
At the beginning of 2019, Percolate Corp. had inventory of $354,000. During the year, it purchased $298,000 worth of raw materials and sold $593,000 worth of inventory. Determine the inventory turnover ratio and the days' sales in inventory. Do not enter dollar signs or commas in the input boxes. For the days' sales in inventory, round your answer to the nearest whole number. Days' Sales in Inventory = days For the inventory turnover ratio, round your answer to 2 decimal places. Inventory Turnover = X
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
8th edition
978-1259569197
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