Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Early in 2022, River bed company switched to a just in time inventory system. Its sales revenue cost of goods and inventory amounts for 2021
Early in 2022, River bed company switched to a just in time inventory system. Its sales revenue cost of goods and inventory amounts for 2021 and 2022 are shown below.
sales revenue: (2021) $3,120,000 (2022) $3,749,500
cost of goods sold (2021) $1,236,000 (2022) $1,404,625
beginning inventory (2021) $182,500 (2022) $229,500
ending inventory (2021) $229,500 (2022) $101,000
dwtermine the turnover inventory for 2021 and 2022: round answers to 1 decimal place ex 1.5
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started