The company reported the following information for the year Beginning accounts receivable $1,000 Sales 5,000 Ending inventory 1,800 Ending accounts receivable 1,100 Cost of goods sold 3,000 Beginning inventory 1,300 Compute (1) Inventory turnover and (2) Number of days sales in inventory ...

1 Inventory turnover Cost of goods soldAve ...

The company reported the following information for the year: Beginning accounts receivable . . . . .

Question:

The company reported the following information for the year:
Beginning . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,000
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800
Ending . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,100
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000
Beginning inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,300

Compute
(1) Inventory turnover and
(2) Number of days’ sales in inventory.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...