Question
Assume a firms inventory level of $18,000 represent 24 days sells. A. What is the annual cost of goods sold? (Use 365 days in a
Assume a firms inventory level of $18,000 represent 24 days sells.
A. What is the annual cost of goods sold? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to whole numbers).
B. What is the inventory turnover ratio? (Round your answer to 2 decimal places).
| Annual cost of goods sold | |
| Inventory turnover ratio | times per year |
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Economics For Investment Decision Makers
Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto
1st Edition
1118111966, 9781118111963
