The following data are taken from Clayburgh Corporation's records for the years ended December 31, 2011, 2010, and 2009.

Instructions:
1. Compute turnover rates for 2011 and 2010 for the following:
(a) Finished goods
(b) Goods in process
(c) Raw materials
2. Analyze the turnover results as to reasonableness and the message they send to a statementreader.

Transcribed Image Text:

2011 2010 2009 Finished goods inventory Goods in process inventory Raw materials inventory Sales Cost of goods sold Cost of goods manufactured Raw materials used in production $60,000 40,000 30,000 60,000 65,000 60,000 60,000 40,000 35.000 400,000 340,000 300,000 225,000 230,000 210,000 260,000 250,000 200,000 150,000 30,000 20,000