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ca can i have help and an explanation? can i have help and an explanation. A company reports the following: Cost of goods sold $373,395
ca
can i have help and an explanation?
can i have help and an explanation.
A company reports the following: Cost of goods sold $373,395 Average inventory 67,890 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover 14 X b. Number of days' sales in inventory 26 X days Feedback Check My Work a. Divide cost of goods sold by average inventory. b. Divide average inventory by average daily cost of goods sold. Average daily cost of goods sold are Cost of Goods Sold divided by 365 days. Sales $602,980 Average accounts receivable (net) 43,070 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover 14 b. Number of days' sales in receivables 26 X days Feedback Check My Work a. Divide sales by average accounts receivable. b. Divide average accounts receivable by average daily sales. Average daily sales are sales divided by 365 days Step by Step Solution
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