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Category > Business & Finance Posted 19 May 2017 My Price 11.00

EX 17-11 Inventory analysis

EX 17-11 Inventory analysis

The following data were extracted from the income statement of Hestia Systems Inc.:

 

Current Year

Preceding Year

Sales

$2,443,600

$2,592,000

Beginning inventories

158,000

130,000

Cost of goods sold

1,221,800

1,440,000

Ending inventories

140,000

158,000

a. Determine for each year (1) the inventory turnover and (2) the number of days’ sales in inventory. Round to the nearest dollar and one decimal place.

b. What conclusions can be drawn from these data concerning the inventories

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Status NEW Posted 19 May 2017 12:05 PM My Price 11.00

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