Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
ejoty ejoty
wrote...
Posts: 138
Rep: 0 0
A year ago
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
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 25 times
1 Reply
Replies
Answer verified by a subject expert
duhelloduhello
wrote...
Posts: 138
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

ejoty Author
wrote...

A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
wrote...

Yesterday
Thanks
wrote...

2 hours ago
Just got PERFECT on my quiz
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  953 People Browsing
 113 Signed Up Today
Related Images
  
 260
  
 167
  
 60
Your Opinion
How often do you eat-out per week?
Votes: 79