early in 2014 chien company switched to a just in time inventory system its sales co 685028
Aug 30, 2021 | Uncategorized
Early in 2014, Chien Company switched to a just in time inventory system. Its sales, cost of goods sold, and inventory amounts for 2013 and 2014 are shown below.
|
|
2013 |
|
2014 |
| Sales |
|
$3,112,256 |
|
$3,750,000 |
| Cost of goods sold |
|
1,213,556 |
|
1,444,633 |
| Beginning inventory |
|
181,776 |
|
212,251 |
| Ending inventory |
|
212,251 |
|
108,987 |
|
|
|
 |
|
(a1)
Determine the inventory turnover for 2013 and 2014. (Ro |
|
|
