The following data are from the income statements of Haskin Company. (a) Calculate for each year (1)

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The following data are from the income statements of Haskin Company.

(a) Calculate for each year (1) the inventory turnover and (2) the days sales in inventory.
(b) What conclusions concerning the management of the inventory can be drawn?

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Accounting Principles

ISBN: 978-1119048473

7th Canadian Edition Volume 2

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: May 17, 2017 09:18 AM

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The following data are from the income statements of Haskin Company. (a) Calculate for each year (1)

Question:

2016 $6,240,000 860,000 4,661,000 940,000 2017 Sales revenue Beginning inventory Purchases Ending inventory $6,420,000 940,000 4,340,000 1,020,000

Step by Step Answer:

a 2017 2016 Beginning Inventory 940000 860000 Purchases 4340000 4661000 Ending Inventory 102...View the full answer

Accounting Principles

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