Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 18 (10 points) Below find a partial information for Fenlon Inc - a Canadian manufacture of wooden furniture: 2022 2021 2020 Sales $401,244
Question 18 (10 points) Below find a partial information for Fenlon Inc - a Canadian manufacture of wooden furniture: 2022 2021 2020 Sales $401,244 Blank #5 $344,759 Cost of Goods Blank #1 286,350 263,979 Sold Gross Margin 95,086 87,957 Blank #7 Ending Inventory 34,511 Blank #6 34,750 36,750 Gross Profit Blank #2 23.5% Blank #8 Percentage Inventory Blank #3 8.19 times Blank #9 Turnover Days sales in Blank #4 44.57 days Blank #10 inventory 2019 In the space provided below, provide the correct answer for each blank. Write your answer like this: Blank #1 Blank #2= Etc. Hint: The formulas for inventory turnover and days sales in inventory are as follows: Days Sales in Inventory 365/Inventory Turnover Ratio Inventory Turnover Ratio Cost of goods sold/Average Inventory.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started