Question
Topic: Inventory Turnover 4. The 2016financial statement of Valley Vineyards reported Net revenues of $39,425,412and Cost of goods sold of $27,204,884. Note 3to the financial
Topic: Inventory Turnover
4.The 2016financial statement of Valley Vineyards reported Net revenues of $39,425,412and Cost of goods sold of $27,204,884. Note 3to the financial statementsreported that Inventories consisted of:
| 2016 | 2015 | ||
| Winemaking and packaging materials | $ 517,836 | $690,292 | |
| Work-in-process | 5,934,014 | 6,058,701 | |
| Finished goods | 4,518,806 | 3,883,469 | |
| Total inventories | $10,970,656 | $10,632,462 |
What was the inventory turnover for 2016?
How did you compute this number?
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CLEP Financial Accounting Study Guide
Authors: Passyourclass
1st Edition
1614330115, 978-1614330110
