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Not sure what I am doing wrong for the ratio. Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing
Not sure what I am doing wrong for the ratio.
Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1. The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 900 coasters, all of which were purchased in a batch on July 10 at. a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. Answer is not complete. Calculate the inventory turnover ratio and days to sell, assuming that inventory was $450 on January 1 of this year. (Use 36 days a year. Round your intermediate calculations and final answers to 1 decimal place.) Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1. The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 900 coasters, all of which were purchased in a batch on July 10 at. a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. Answer is not complete. Calculate the inventory turnover ratio and days to sell, assuming that inventory was $450 on January 1 of this year. (Use 36 days a year. Round your intermediate calculations and final answers to 1 decimal place.)Step by Step Solution
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