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ACC 201 Principles of Financial Accounting Assignment

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ACC 201 Principles of Financial Accounting Assignment - Ashford University, USA

Question - The following data are taken from the financial statements:

 

Current Year

Preceding Year

Net sales

$3,592,000

$4,056,000

Cost of goods sold

2,092,000

2,656,000

Average monthly inventory

332,000

328,000

Inventory, end of year

372,000

347,000

Required - Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory.

Reference no: EM132456852

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ACC 201 Principles of Financial Accounting Assignment : ACC 201 Principles of Financial Accounting Assignment Help and Solution - Ashford University, USA. Determine for each year (1) the inventory turnover
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