Question
11) Cost of goods sold for 2020 was $250,000 while net sales amounted to $575,000. On January 1, 2020, inventory was $150,000, and on December
11) Cost of goods sold for 2020 was $250,000 while net sales amounted to $575,000. On January 1, 2020, inventory was $150,000, and on December 31, 2020, inventory was $175,000. Inventory turnover for 2020 was:
a) 1.54
b) 1.67
c) 1.43
d) 1.00
e)None of the above
Answer:
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Internal Audit Quality Developing A Quality Assurance And Improvement Program
Authors: Sally-Anne Pitt
1st Edition
1118715519, 978-1118715512
