Question
XYZ company presented the following financial information for December 31, 2018 and 2017. 2018 2017 Accounts receivable $40,000 $36,000 Inventory 28,000 35,000 Net sales 190,000
XYZ company presented the following financial information for December 31, 2018 and 2017.
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders' equity
240,000
225,000
Net income
32,500
28,000
2018 inventory turnover ratio is?
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
