Question
A company reports the following: Cost of goods sold $207,320 Average inventory 51,830 Determine (a) the inventory turnover and (b) the number of days' sales
A company reports the following:
| Cost of goods sold | $207,320 |
| Average inventory | 51,830 |
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.
| a. Inventory turnover | |
| b. Number of days' sales in inventory |
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Integrated Accounting For Windows
Authors: Dale A. Klooster, Warren Allen
5th Edition
0324312490, 9780324312492
