Question
Question Two (20 points) On January 1, 2011, Rafe` Companys inventory was $400,000. During 2011, the company purchased $1,900,000 of additional inventory, and on December
Question Two (20 points)
On January 1, 2011, Rafe` Companys inventory was $400,000. During 2011, the company purchased $1,900,000 of additional inventory, and on December 31, 2011, its inventory was $500,000.
Required:
What was the inventory turnover for 2011?
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Horngrens Accounting, The Managerial Chapters
Authors: Tracie Miller Nobles, Brenda Mattison
13th Edition
0135982138, 9780135982136
