Question
A company reports the following: Cost of goods sold $428,145 Average inventory 50,370 Determine (a) the inventory turnover and (b) the number of days' sales
A company reports the following:
| Cost of goods sold | $428,145 |
| Average inventory | 50,370 |
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 | days |
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Managerial Accounting And Analysis In Multinational Enterprises
Authors: H. Peter Holzer, Hanns Martin W. Schoenfeld
1st Edition
0899250874, 978-0899250878
