Question
The following data were taken from the income statements of Mydorf Company. 2020 2019 Sales revenue $6,340,000 $6,300,000 Beginning inventory 960,000 860,000 Purchases 4,311,000 4,650,000
The following data were taken from the income statements of Mydorf Company.
2020
2019
Sales revenue
$6,340,000
$6,300,000
Beginning inventory
960,000
860,000
Purchases
4,311,000
4,650,000
Ending inventory
1,050,000
960,000
Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)
2020
2019
Inventory turnover
times
times
Link to Text
Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)
2020
2019
Days in inventory
days
days
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
14th Edition
1119707110, 978-1119707110
