Identify which methods could be used

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Reference no: EM133922803

Problem

I. Given the following information, calculate the inventory turnover for a Company. Evaluate the trend results.

1. 2020: Cost of goods sold- $2,168,000; Beginning inventory- $408,000; Ending inventory- $489,000. Get the instant assignment help.
2. 2021: Cost of goods sold- $945,000; Beginning inventory- $436,000; Ending inventory- $408,000.

II. Identify which methods could be used to determine whether there has been shrinkage or shortage in the physical inventory.

Reference no: EM133922803

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