Question
The following information was available for Novak Corp. at December 31, 2017: beginning inventory $75000; ending inventory $130000; cost of goods sold $628000; and sales
The following information was available for Novak Corp. at December 31, 2017: beginning inventory $75000; ending inventory $130000; cost of goods sold $628000; and sales $808000. Novak inventory turnover ratio (rounded) in 2017 was 4.8 times. 7.9 times. 8.4 times. 6.1 times.
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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
