Assess the company”s performance if competitors average 15 times for inventory turnover and 25 days…

Selected accounts and balances for the three months ended March 31, 2012, for Business Solutions follow.

January 1 beginning inventory

$ 0

Cost of goods sold

14,052

March 31 ending inventory

704

Required

1. Compute inventory turnover and days’ sales in inventory for the three months ended March 31, 2012.

2. Assess the company’s performance if competitors average 15 times for inventory turnover and 25 days for days’ sales in inventory.

 

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