Question
Inventory Turnover and Days Sales in Inventory W. Glass & Company reported the following information in its recent annual report: 2015 2016 Cost of goods
Inventory Turnover and Days Sales in Inventory W. Glass & Company reported the following information in its recent annual report:
|
| 2015 | 2016 |
| Cost of goods sold | $4,000,000 | $4,600,000 |
| Beginning inventory | $900,000 | 860,000 |
| Ending inventory | 860,000 | 640,000 |
Calculate the companys inventory turnover and days sales in inventory for both years.
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Introductory Accounting Finance And Auditing For Lawyers
Authors: Lawrence Cunningham
6th Edition
0314280456, 978-0314280459
