Question
Lewis Incorporated and Clark Enterprises report the following amounts for the year Inventory Beginning Lewis: $32,0000 Clark: $$58,000 Inventory Ending Lewis: 26,000 Clark: 68,000 Purchases
Lewis Incorporated and Clark Enterprises report the following amounts for the year
Inventory Beginning Lewis: $32,0000 Clark: $$58,000
Inventory Ending Lewis: 26,000 Clark: 68,000
Purchases Lewis: 388,200 Clark: 204,000
Purchase Returns: Lewis: 23,000 Clark: 68,000
What is the cost of goods available for sale?
What is the inventory turnover ratio for clark and lewis?
What are the average days in inventory?
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Auditing And Other Assurance Services
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser
10th Canadian Edition
0131296159, 978-0131296152
