SCC Co. reported the following for the current year:
Net sales $ 59,000
Cost of goods sold $...
Business, 11.06.2020 16:57 pennygillbert
SCC Co. reported the following for the current year:
Net sales $ 59,000
Cost of goods sold $ 48,800
Beginning balance in inventory $ 3,100
Ending balance in inventory $ 9,100
Compute (a) inventory turnover and (b) days’ sales in inventory.
Hint: Recall that inventory turnover uses average inventory, and days’ sales in inventory uses the ending balance in inventory."
Answers: 3
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