Question
Your company had a beginning inventory of $105,400 and purchased $271,320 during the accounting period. Assuming no returns, find the goods available for sale, the
Your company had a beginning inventory of $105,400 and purchased $271,320 during the accounting period. Assuming no returns, find the goods available for sale, the cost of goods sold, the inventory turnover ratio, and days to sell for the company if its ending inventory was $85,855.
Goods available for sale = (round to the nearest whole number, no comas, no dollar signs) Cost of goods sold = (round to the nearest whole number, no comas, no dollar signs) Average inventory = (round to the nearest whole number, no comas, no dollar signs) Inventory turnover ratio = (round to two decimal places) Days to sell = (round to the nearest whole number)
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