Question
This information is available for Bethel Inc. for the current year. Beginning inventory $ 12,230 Ending inventory 12,520 Cost of goods sold 84,350 Sales 143,250
This information is available for Bethel Inc. for the current year. Beginning inventory $ 12,230 Ending inventory 12,520 Cost of goods sold 84,350 Sales 143,250 Instructions a) Calculate the inventory turnover for Bethel Inc. for the current year. (3 marks) b) Calculate the days in inventory for Bethel Inc. for the current year. (3 marks) c) If the company policy for accounts receivable is that all payments are due within 30 days, discuss the situation and explain what you would recommend. (3 marks) This information is available for Bethel Inc. for the current year. Beginning inventory $ 12,230 Ending inventory 12,520 Cost of goods sold 84,350 Sales 143,250 Instructions a) Calculate the inventory turnover for Bethel Inc. for the current year. (3 marks) b) Calculate the days in inventory for Bethel Inc. for the current year. (3 marks) c) If the company policy for accounts receivable is that all payments are due within 30 days, discuss the situation and explain what you would recommend.
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