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Accounting Assignment - Inventory Estimation and Turnover




Whitewater Co. lost its entire inventory in a flash flood that occurred on August 31, 20##. Review the recovered records for August in the Excel Template. (SEE ATTACHED BELOW);Requirements;Estimate the August 31 inventory using the gross profit method.;Prepare the August income statement through gross profit for Whitewater Co.;Calculate the Inventory Turnover Ratio for Whitewater for years 2009 and 2010.;Provide a reason why the Inventory Turnover has changed from the previous year.


Paper#78909 | Written in 18-Jul-2015

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