Determine the inventory turnover, Accounting Basics

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Determine the inventory turnover

The following data were taken from recent annual reports of Apple Computer, Inc., a manufacturer of personal computers and related products, and American Greetings Corporation, a manufacturer and distributor of greeting cards and related products:

cost of goods sold $13,717,000,000 $826,791,000
inventory, end of year 270,000,000 187,817,000
inventory, beginning of year 165,000,000 230,308,000

a. Determine the inventory turnover for Apple and American Greetings. Round to one decimal place

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Accounting Basics: Determine the inventory turnover

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Accounting Basics: Determine the inventory turnover

Reference No:- TGS0704871

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Recent Questions Asked Accounting Basics

Q : What is the correct net income

Q : What are the estimated total monthly fixed cost

Q : Calculate inventory turnover and days in inventory

Q : The total budgeted fixed manufacturing

Q : Determine the inventory turnover

Q : What is the amount by which advertising can be increased

Q : Describe the rate of return of the project

Q : What is the amount of mike deduction

Q : Explain the number of equivalent units of production

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the inventory turnover

Reference No:- TGS0704871

Recent Questions Asked Accounting Basics

Q : What is the correct net income

Q : What are the estimated total monthly fixed cost

Q : Calculate inventory turnover and days in inventory

Q : The total budgeted fixed manufacturing

Q : Determine the inventory turnover

Q : What is the amount by which advertising can be increased

Q : Describe the rate of return of the project

Q : What is the amount of mike deduction

Q : Explain the number of equivalent units of production

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