Homework Answers
Answer : 12.5 Times
>> Average Inventory = ( $ 37,500 + $ 42,500 ) / 2 = $ 40,000.
>> Inventory Turnover= ( Cost of Goods Sold / Average Inventory )
>> Inventory Turnover for Year -4 = ( $ 500,000 / $ 40,000 ) = 12.5 Times
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Selected financial information for Edwards Company for Year 4 follows: $800,0e8 5ee, eee Sales Cost of...
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pls help?
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pls help?
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,800 117,899 12,129 13,500 388,000 392,000 113,400 111,750 711,eee 706, eee 390, 385,500 Multiple Choice 8.28 100 8.62 o 828. o 8.62 o 790. o 5.78. o...
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