Question
EasyMeal, Inc. presents the following data for December 31, 2019. Inventories, beginning of year $ 916,500 Inventories, end of year 688,000 Cost of Goods Sold
EasyMeal, Inc. presents the following data for December 31, 2019.
|
|
|
|
| Inventories, beginning of year | $ 916,500 |
|
| Inventories, end of year | 688,000 |
|
| Cost of Goods Sold | 5,680,000 |
|
| Net Sales | 8,666,500 |
|
______3. The inventory turnover in days (use average inventory) is:
| a. 44.2 |
| b. 29.0 |
| c. 51.6 |
| d. 33.8 |
| e. 7.0 |
______4. The prior and current year results for Days Sales in Inventory are:
- Using information above: Complete 2019
|
| 2019 | 2018 | 2017 |
| Days Sales in Inventory |
| 48.8 | 52.8 |
- T or F: This trend indicates the company is improving its efficiency and effectiveness in managing inventory from the previous years.
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
9780357109144
