Question
Sheffield Company has $73,000 of inventory at the beginning of the year and $66,000 at the end of the year. Sales revenue is $1,071,500, cost
Sheffield Company has $73,000 of inventory at the beginning of the year and $66,000 at the end of the year. Sales revenue is $1,071,500, cost of goods sold is $657,500, and net income is $134,700 for the year. The inventory turnover ratio is:
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Internal Auditing: Principles And Techniques
Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke
1st Edition
0894131672, 978-0894131677
