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BBB Ltd has provided information from its financial statements for the year ended 30 June 2015. Sales (all on credit) $1,900,000 Gross profit 900,000 Net
BBB Ltd has provided information from its financial statements for the year ended 30 June 2015. Sales (all on credit) $1,900,000 Gross profit 900,000 Net income 150,000 Cost of sales1,000,000 Average inventory is $200,000 Accounts receivable at end of year 500,000 The company trades 365 days per year. The inventory turnover ratio is: Select one: a. 5.0 times. b. 5.5 times. c. 2.2 times. d. 2.0 times.
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