Lewis Incorporated and Clark Enterprises report the following amounts for the year. ...
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Lewis Incorporated and Clark Enterprises report the following amounts for the year. Lewis Clark Inventory beginning $ $ Inventory ending Purchases Purchase returns Required: Calculate cost of goods sold for each company. Calculate the inventory turnover ratio for each company. Calculate the average days in inventory for each company. Which company appears to be managing its inventory more efficiently?
Lewis Incorporated and Clark Enterprises report the following amounts for the year.
Lewis Clark
Inventory beginning $ $
Inventory ending
Purchases
Purchase returns
Required:
Calculate cost of goods sold for each company.
Calculate the inventory turnover ratio for each company.
Calculate the average days in inventory for each company.
Which company appears to be managing its inventory more efficiently?
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