Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. inventory turnover and number of days' sales in in

Inventory turnover and number of days' sales in inventory Financial statement data for years ending...

90.2K

Verified Solution

Question

Accounting

image

Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: a. Determine the inventory turnover for 20Y and 20Y6. Round to one decimal place. b. Determine the number of days' sales in inventory for 20Y and 20Y6. Use 365 days and round to one decimal place. c. Are the changes in inventory turnover and the number of days' sales in inventory from 20Y to 20Y7 favorable or unfavorable? Feedback Check My Work period. average daily cost of goods sold. c. A high ratio implies either strong sales or large discounts

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Q

Can you give examples of using functions in real life? By real life I understand not...

Basic Math
Q

Challenge of using steel bar in simple/standard house (i.e. landed house or lowincome house).

Civil Engineering
Q

Objective Description of Jacob Van Ruisdael, A Waterfall at the Foot of a Hill near a...

Psychology
Q

A certain type of bacteria can divide asexually every 20 minutes This bacteria s habitat...

Biology
Q

The energy of a photon is equal to the kinetic energy of a proton The...

Physics
Q

Select the correct answer from each drop-down menu. Marjory works at a commercial bakery. She...

Basic Math
Q

Evaluate the following limits If needed enter INF for oo and INF for a b...

Calculus
Q

aninanuieferferier 3. Geterine be natment tipral ines to 3,1,8025 aninanuieferferier 3....

Accounting
Q

Present convincing arguments that would convince a skeptic that money spent on space exploration is...

Accounting
Q

Si el margen de contribucin por unidad es $2, los costos fijos son $10 000,...

Accounting
Q

2. PFL Corporation has the following estimated costs: Direct Materials Costs S Rent on Factory...

Accounting
Q

Calculate the total Social Security and Medicare tax burden on a sole proprietorship earning 2017...

Accounting