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The following 2010 information is available for Milk, Inc.: Purchases of inventory: $3,200,000 Cost of goods sold: $3,000,000 Ending inventory: $700,000 Net sales: $6,000,000
The following 2010 information is available for Milk, Inc.: Purchases of inventory: $3,200,000 Cost of goods sold: $3,000,000 Ending inventory: $700,000 Net sales: $6,000,000 What was the inventory turnover for 2010?
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To calculate the inventory turnover for 2010 we use the formula textInventory Turnover fracCost of G...
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
