The following information was available for the year ended December 31, 2019: Net sales $...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The following information was available for the year ended December 31, 2019: Net sales $ 1,040,250 Cost of goods sold 646,050 Average accounts receivable for the year 43,350 Accounts receivable at year-end 21,400 Average inventory for the year 214,000 Inventory at year-end 158,400 Required: Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) Calculate the number of days' sales in inventory for
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.