Question
BC Company provided the following partial balance sheet at the end of 20X4. Calculate ABC Company's Inventory Turnover Ratio. Accounts 12/31/20X4 12/31/20X3 Cash $55,000 $65,000
BC Company provided the following partial balance sheet at the end of 20X4. Calculate ABC Company's Inventory Turnover Ratio.
| Accounts | 12/31/20X4 | 12/31/20X3 |
| Cash | $55,000 | $65,000 |
| Accounts Receivable | $121,000 | $105,000 |
| Inventory | $66,000 | $48,000 |
| Equipment | $267,000 | $259,000 |
| Total Assets | $509,000 | $477,000 |
NOTE: Round your final answer to two decimal places.
-
8.93
-
8.65
-
Unable to be determined.
-
7.71
-
7.47
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Using QuickBooks Accountant 2018 For Accounting
Authors: Glenn Owen
16th Edition
0357042085, 9780357042083
