Solution-Discuss the changes in the amount of inventory

Discuss the changes in the amount of inventory

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Reference no: EM13548888

Early in 2014, Chien Company switched to a just-in-time inventory system. Its sales, cost of goods sold, and inventory amounts for 2013 and 2014 are shown below.

	2013	2014
Sales	$3,120,000	$3,713,000
Cost of goods sold	1,200,000	1,425,000
Beginning nventody	180,000	220,000
Ending inventory	220,000	100,000

Determine the inventory turnover and days in inventory for 2013 and 2014. Discuss the changes in the amount of inventory, the inventory turnover and days in inventory, and the amount of sales across the two years.

Reference no: EM13548888

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Discuss the changes in the amount of inventory

Reference no: EM13548888

Reference no: EM13548888

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