Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Selected financial information for Rundle Company for 2019 follows: Sales $ 2,050,000 Cost of goods sold 1,435,000 Merchandise inventory Beginning of year 158,000 End of
Selected financial information for Rundle Company for 2019 follows:
Sales | $ | 2,050,000 | |
Cost of goods sold | 1,435,000 | ||
Merchandise inventory | |||
Beginning of year | 158,000 | ||
End of year | 193,000 | ||
|
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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