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At the beginning of 2020, Acatela Wholesale Corp. had inventory of $353000.It ended the year with inventory of $ 207,000 after purchasing $519000 worth of
At the beginning of 2020, Acatela Wholesale Corp. had inventory of $353000.It ended the year with inventory of $ 207,000 after purchasing $519000 worth of inventory. The cost of goods sold totalled $623000. Determine the inventory turnover ratio and the day's sales in inventory.
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To calculate the inventory turnover ratio we need to divide the cost of goods sold by the av...
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 1
1119048508, 978-1119048503
