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Early in 2022, Grouper Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2021 and 2022
Early in 2022, Grouper Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2021 and 2022 are shown below.
Early in 2022, Grouper Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2021 and 2022 are shown below. 2021 2022 Sales revenue $3,126,000 $3,714,000 Cost of goods sold 1,231,500 1,414,600 185,000 225,500 Beginning inventory Ending inventory 225,500 96,000 (51) Determine the inventory turnover for 2021 and 2022. (Round answers to 1 decimal place, e.g. 1.5.) 2021 2022 Inventory turnoverStep by Step Solution
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