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Inventory Analysis The following data were extracted from the income statement of Brecca Systems Inc.: Current Year Previous Year Sales $1,518,400 $1,589,900 Beginning inventories 72,972
Inventory Analysis
The following data were extracted from the income statement of Brecca Systems Inc.:
Current Year | Previous Year | |||
Sales | $1,518,400 | $1,589,900 | ||
Beginning inventories | 72,972 | 98,606 | ||
Cost of goods sold | 759,200 | 883,300 | ||
Ending inventories | 65,972 | 72,972 |
a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year.
Current Year | Previous Year | |||
1. Inventory turnover | ||||
2. Number of days' sales in inventory | days | days |
b. The inventory position of the business has . The inventory turnover has , while the number of days' sales in inventory has .
Hito Caloutalo Imventory nalysis 2 Lx.13 11Algu the folloi"y data ,vere extracted rarn theincome staternentof breB Syster"s lm.: Previous Year Salas Reninnina inventoriss Cast of go sld Fnding inventanes a. Determinc for cach yoar(i) the inventory turnover and 2the number of days. sales in inventory. Round interm calculators tothe nearest dallarand the fnal answers to onc dcdmal place. Assume 365 dass 1,518,400 $1,589,900 . Ex.13-8.Algo 98,606 883,300 72,977 77,973 65,973 6. EX 15-0 ALGO Year. . LX15 GALGO . Inventory turnover 2. Number of days' seles in inventory b. The inventory position of the business has 8. Ex.15-3.Ago 0. EX15-21 ALGO 10. EX.14-15 ALGO 11. Pr.14-2.Algo days days The inventory turnover has while the number of days' sales in inventory has Prevlous Next Progress: 6r11 rtems ime Remaining: 1:52:15 Submit Test for Grading O Type here to searchStep by Step Solution
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