Anderson Plumbing Fixtures reported the following income statement for the year ended December 31,2017.
Compute inventory turnover rate for the year.(Round to two decimal places. )
Compute days' sales in inventory for the year.(Round to two decimal places. )
Definitions:
Load-Carrying Capacity
The maximum weight that a structure or vehicle can safely carry or support.
Implied Warranty
A legal concept that guarantees certain conditions or features are present in a product or service, even if not explicitly stated.
Operation of Law
Changes in legal rights or obligations that occur automatically due to established laws, rather than the actions or agreements of individuals.
Express Statements
Clearly articulated and directly communicated declarations or assertions.
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