Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 7 of 7 -12 View Policies Current Attempt in Progress Wildhorse Co. had sales of $2.560,000, cost of poods sold of $1,150,800, and profit

image text in transcribed
Question 7 of 7 -12 View Policies Current Attempt in Progress Wildhorse Co. had sales of $2.560,000, cost of poods sold of $1,150,800, and profit of $493,000 in 2021. The company hada January 1, 2021, inventory balance of $134,000 and a December 31, 2021, Inventory balance of $240,000. Calculate the inventory turnover and days sales in inventory ratios for 2021. (Round answers to 1 decimal place, es 527. Use 365 days for calculation) Inventory tumover times Dassles in Inventory days Textbook and Media Attempts of used Submit An O 8'C Most

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Connect For Payroll Accounting 2020

Authors: Jeanette Landin

6th Edition

1260943895, 9781260943894

More Books

Students also viewed these Accounting questions

Question

* What is the importance of soil testing in civil engineering?

Answered: 1 week ago

Question

Explain the concept of shear force and bending moment in beams.

Answered: 1 week ago

Question

highlight how to collect and record interview and diary based data;

Answered: 1 week ago

Question

clarify the relationship between research, theory and practice;

Answered: 1 week ago

Question

evaluate the quality of your data;

Answered: 1 week ago