The following data were extracted from the income statement of Hestia System Inc: A. Determine for each

Question:

The following data were extracted from the income statement of Hestia System Inc:

The following data were extracted from the income statement of 176904

A. Determine for each year
(1) The inventory turnover and
(2) The number of days' sales in inventory.
Round to the nearest dollar and one decimal place.
B. What conclusion can be drawn from these data concerning theinventories?

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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: May 23, 2013 05:24 AM

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The following data were extracted from the income statement of Hestia System Inc: A. Determine for each

Question:

31-Dec-12 31-Dec-11 Sales S 2.443.600 S 2,592,000 Beginning inventories S 158,000 S 130,000 Cost of goods sold 1,221,800 S 1,440,000 S 1.221.800 S 1.440.000 Ending inventories S 140,000 S 158.000

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a Computation of the Following Ratios 1 Inventory turnover Ratio 2 Cost of Goods Sold Average ...View the full answer

Financial and Managerial Accounting

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