Calculating Inventory Turnover The Mississippi Moon Corporation has ending inventory of $324,600, and cost of goods sold

Question:

Calculating Inventory Turnover The Mississippi Moon Corporation has ending inventory of $324,600, and cost of goods sold for the year just ended was $2,987,165. What is the inventory turnover? The days’ sales in inventory how long on average did a unit of inventory on the shelf before it was sold?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...