The following information is available for Compton Company: - 14096

Solution Posted by
yousafbhutta

yousafbhutta

Rating : (28)C
Solution Detail
Price: $1.00
  • From: Business,
  • Posted on: Thu 20 Sep, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

The following information is available for Compton Company:

 
2012
2011
Accounts receivable $  360,000 $  400,000
Inventory 340,000 420,000
Net credit sales 2,470,000 1,400,000
Cost of goods sold 1,860,000 1,060,000
Net income 300,000 170,000



The inventory turnover ratio for 2012 is

  • 5.5 times.
  • 4.4 times.
  • 6.2 times.
  • 4.9 times.
Solution Description

The following information is available for Compton Company: