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Author Question: The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear ... (Read 25 times)

urmomsucks

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on: Feb 5, 2023
The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below.

​​202020212022
Current assets​​​
  Cash$  20,000$  16,000$  14,000
  Accounts receivable, net28,00020,00024,000
  Inventory    22,000    30,000    28,000
Total current assets70,00066,00066,000
Plant & equipment, net    62,000    60,000    40,000
Total assets$132,000$126,000$106,000

Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020, $82,400 for 2021 and $72,500 for 2022.

What is the inventory turnover for 2021?
◦ 2.75 times
◦ 4.14 times
◦ 3.17 times
◦ 4.00 times
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by urmomsucks on Feb 5, 2023

as4309

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Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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urmomsucks

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Reply 2 on: Feb 5, 2023
:D TYSM

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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