Question
PLEASE HELP. Big Sale Stores is assessing its levels of inventory for 2013 and 2014 and has gathered the following data: 2014 2013 2012 Ending
PLEASE HELP.
Big Sale Stores is assessing its levels of inventory for 2013 and 2014 and has gathered the following data:
| 2014 | 2013 | 2012 | |
| Ending inventory | $192,000 | $162,000 | $138,000 |
| Cost of goods sold | 960,000 | 900,000 |
Compute the inventory turnover and days' inventory on hand for 2013 and 2014. Use 365 days in a year when making your computations. Round your answers to one decimal place.
| 2013 | 2014 | |
| Inventory Turnover: | _____ times | ______ times |
| Days' Inventory on Hand: | ______ days | ________ days |
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Auditing Concepts For A Changing Environment With IDEA Software
Authors: Larry E. Rittenberg, Bradley J. Schwieger
4th Edition
0387321500, 978-0324180237
