Excerpts from Andre Company's December 31, 2024 and 2023, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total
Excerpts from Andre Company's December 31, 2024 and 2023, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Net income Total stockholders' equity 2024 2023 $48,000 $44,000 21,000 42,000 193,000 193,000 116,000 117,000 427,000 413,000 247,000 231,000 34,500 33,000 What is the inventory turnover ratio for 2024? (Round your answer to two decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 Calculate Average Inventory Add the beginning inventory 44000 and ending inventory 48...
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Step: 2
Step: 3
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Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
7th edition
132928930, 978-0132928939
