Module 9 Assignment 1:
Co. lost its entire inventory in a flash flood that occurred on August 31,
the past 4 years gross profit has averaged 32% of net sales. The following
records for August were recovered:
Sales returns and
the August 31 inventory using the gross profit method.
the August income statement through gross profit for Whitewater Co.
Module 9 Part 2:
Johnson has the following information for the years ending December 31, 2009
Cost of Goods Sold:
Goods Available for Sale
Cost of Goods Sold
the inventory turnover rate for P.F. Johnson for 2009 and 2010. Round to two
decimal places. Show your work.
is the likely cause of the change in turnover rate from 2009 to 2010?
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