Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A7X Corporation has ending inventory of $703,173 and cost of goods sold for the year just ended was $7,864,613. a. What is the inventory turnover?

A7X Corporation has ending inventory of $703,173 and cost of goods sold for the year just ended was $7,864,613.
a. What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.

What is the days sales in inventory? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

c. How long on average did a unit of inventory sit on the shelf before it was sold? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Identify specific IT applications for HR planning.

Answered: 1 week ago

Question

=+ Do you have any long-term goals?

Answered: 1 week ago

Question

9. Understand the phenomenon of code switching and interlanguage.

Answered: 1 week ago