Question

PLEASE HELP WITH THIS PRACTICE PROBLEM FOR MY ACCOUNTING CLASS:

Shown below are financial data frm Tree Corp.’s accounting records for 2012:

Sales Revenue: $3,500,000

Cost of Goods Sold: $2,000,000

Beginning Inventory: $400,000

Ending Inventory: $200,000

Calculate the inventory turnover and days’ sales in inventory for 2012.

ANSWER: Inventory Turnover _________________________

ANSWER: Days’ Sales in Inventory _____________________

PLEASE WALK ME THROUGH THE SOLUTIONS TO SOLVE THIS PROBLEM & DON’T JUST GIVE THE ANSWER. THANKS



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