The cost of goods sold computations for Silver Company and Gold Company are shown below. Instructions (a)

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The cost of goods sold computations for Silver Company and Gold Company are shown below.

Instructions
(a) Compute inventory turnover and days in inventory for each company.
(b) Which company moves its inventory morequickly?

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Financial and managerial accounting

ISBN: 978-1118016114

1st edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Dec 29, 2012 05:28 AM

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The cost of goods sold computations for Silver Company and Gold Company are shown below. Instructions (a)

Question:

Beginning inventory Cost of goods purchased Cost of goods available for salc Ending inventory Silver Company $ 47,000 200,000 247,000 55,000 $192,000 Gold Company $ 71,000 290,000 361,000 69,000 $292,000 Cost of goods sold

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a Silver Company Gold Company Inventory Turnover 192000 29...View the full answer

Financial and managerial accounting

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