Problemselected financial information for solomon company, Ask an Expert

Accounting

Problem

Selected financial information for Solomon Company for 2019 follows:

Sales $ 2,500,000
Cost of goods sold 1,750,000
Merchandise inventory
Beginning of year 154,000
End of year 200,000

Required

Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92812993

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