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Company: NOP Retail Scenario: Inventory Management Data: Beginning Inventory: $50,000 Purchases: $200,000 Ending Inventory: $30,000 Cost of Goods Sold: $220,000 Requirements: Calculate the inventory turnover
- Company: NOP Retail
Scenario: Inventory Management
Data:
- Beginning Inventory: $50,000
- Purchases: $200,000
- Ending Inventory: $30,000
- Cost of Goods Sold: $220,000
Requirements:
- Calculate the inventory turnover ratio.
- Determine the days in inventory.
- Discuss the importance of inventory management in cost control.
- Recommend strategies to improve inventory turnover.
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
