James Audio Co Uses the Periodic inventory system. James reported these amounts on June 30, 2009: Inventory, June 30 2008 $20,000 Inventory, June 30 2009
James Audio Co Uses the Periodic inventory system. James reported these amounts on June 30, 2009:
Inventory, June 30 2008 $20,000
Inventory, June 30 2009 $22,000
Purchase (of inventory) $85000
Purchase Discount 4000
Purchase Return 9000
Frieght in 5000
Sales Revenue 190,000
Sales Returns 20,000
Compute James' inventory turnover ratio.
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Authors: Karen Wilken Braun, Wendy M. Tietz
2nd Custom Edition
1269396803, 978-1269396806
