Answered step by step
Verified Expert Solution
Question
1 Approved Answer
From the following information for Russo Merchandising Co. 2021 2020 2019 Cost of goods sold $ 643,825 $ 426,650 $ 391,300 Merchandise inventory (December 31)
From the following information for Russo Merchandising Co.
2021 | 2020 | 2019 | |||||||
Cost of goods sold | $ | 643,825 | $ | 426,650 | $ | 391,300 | |||
Merchandise inventory (December 31) | 96,400 | 86,750 | 91,500 | ||||||
Calculate inventory turnover for 2021 and 2020 and days sales in inventory at December 31, 2021, and 2020. (Round your final answers to 1 decimal place.)
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