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Category > Accounting Posted 20 Aug 2017 My Price 7.00

Holland Company

Inventory turnover and number of days’ sales in inventory

Financial statement data for years ending December 31 for Holland Company follows:

 

 

2016                    2015

 

 

Cost of merchandise sold inventories:

$4,504,500

$3,715,200

 

Beginning of year

788,000

760,000

 

end of year

850,000

788,000

a.     Determine the inventory turnover for 2016 and 2015.

b.     Determine the number of days’ sales in inventory for 2016 and 2015. Use 365 days and round to one decimal place.

c.     Does the change in inventory turnover and the number of days’ sales in inventory from 2015 to 2016 indicate a favorable or an unfavorable trend?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 06:08 PM My Price 7.00

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