Question
Below is financial information for Mountain Lake Supplies Inc., for the year ended April 30, 2021. Beginning inventory $ 35,000 Ending inventory 50,000 Cost of
Below is financial information for Mountain Lake Supplies Inc., for the year ended April 30, 2021.
Beginning inventory $ 35,000
Ending inventory 50,000
Cost of goods sold 375,000
Beginning accounts receivable 90,000
Ending accounts receivable 82,000
Net credit sales 825,000
Calculate the inventory turnover and the accounts receivable turnover.
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The Process Auditing And Techniques Guide
Authors: J.P. Russell
2nd Edition
087389782X, 978-0873897822
