Question
In 2021, Sagrada Company purchased P480,000 of inventory. The cost of goods sold for 2021 was P450,000, and the ending inventory on December 31, 2021,
In 2021, Sagrada Company purchased P480,000 of inventory. The cost of goods sold for 2021 was P450,000, and the ending inventory on December 31, 2021, was P90,000. What was the inventory turnover for 2021?
a. 6.4
b. 6.0
c. 5.3
d. 5.0
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
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