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0:5 Use the following information for Razor Company to compute inventory...

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Accounting

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0:5 Use the following information for Razor Company to compute inventory turnover and days' sales in inventory for 2020. 2019 2020 Net Sales $ 291,000 S 323,750 Cost of goods sold S 180,420 S 194.250 Ending Inventory S 39,690 S 38.850 0:6 Perch Company reported the following purchases and sales for its only product. Perch uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Date Activities Units Acquired at Cost nits Sold at Retail May 1 Beginning Inventory 150 units # $10.00 5 Purchase 2.20 units $12.00 10 Sales 140 cm $20.00 15 Purchase 100 units $13.00 24 Sales 150 $21.00 1. 52,260 B. 83,180 C. 51,860 D. $3.580 E $2.100

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