Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A7X Corporation has ending inventory of $709,473 and cost of goods sold for the year just ended was $8,806,432. a. What is the inventory turnover?

A7X Corporation has ending inventory of $709,473 and cost of goods sold for the year just ended was $8,806,432.

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

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes

8th Edition

007322359X, 9780073223599

More Books

Students also viewed these Finance questions

Question

What are possible safety concerns? Explain.

Answered: 1 week ago

Question

What would you do if you were in Margarets shoes?

Answered: 1 week ago