Question
On January 1, 2012, the Rancher Company's beginning inventory of PhP400,000. In 2012, Rancher purchased PhP1,900,000 of additional inventory. On December 31, 2012, Rancher's ending
On January 1, 2012, the Rancher Company's beginning inventory of PhP400,000. In 2012, Rancher purchased PhP1,900,000 of additional inventory. On December 31, 2012, Rancher's ending inventory was PhP500,000, then Sales of P200,000.00 and gross profit of P20,000.
What are the inventory turnover and the age of inventory for 2012?
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Inventory turnover is a ratio that measures how many times a company sells its entire average invent...
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
