Question
Use the following information for MK, Inc. to compute the inventory turnover for 2021. Round your final answer to the near 2 decimal places (i.e.
Use the following information for MK, Inc. to compute the inventory turnover for 2021. Round your final answer to the near 2 decimal places (i.e. 1.196 would be 1.20).
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Net sales | $ | 563,000 | $ | 476,600 | ||
| Cost of goods sold | 333,000 | 338,000 | ||||
| Ending inventory | 87,400 | 82,080 | ||||
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Hospitality Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
2nd Edition
9780470598092, 470083603, 978-0470083604
